MAC Copper's (MTAL) "Hold" Rating Reiterated at Canaccord Genuity Group

MAC Copper (NYSE:MTAL - Get Free Report)'s stock had its "hold" rating reiterated by Canaccord Genuity Group in a research report issued to clients and investors on Friday,Benzinga reports.

A number of other brokerages also recently issued reports on MTAL. National Bank Financial downgraded shares of MAC Copper from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 30th. Scotiabank restated a "sector perform" rating and issued a $13.00 price target on shares of MAC Copper in a research report on Tuesday, May 27th. Finally, BMO Capital Markets restated a "market perform" rating and issued a $12.25 target price (up from $11.00) on shares of MAC Copper in a report on Tuesday, June 3rd.

MAC Copper Trading Up 0.0%

MTAL traded up $0.01 during trading on Friday, hitting $12.05. The company's stock had a trading volume of 123,714 shares, compared to its average volume of 473,374. The company has a quick ratio of 0.97, a current ratio of 1.12 and a debt-to-equity ratio of 0.63. MAC Copper has a one year low of $7.69 and a one year high of $14.93. The business's 50 day simple moving average is $11.30 and its 200-day simple moving average is $10.53.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Invesco Ltd. boosted its position in MAC Copper by 6.5% during the 4th quarter. Invesco Ltd. now owns 25,755 shares of the company's stock valued at $274,000 after acquiring an additional 1,576 shares in the last quarter. Quadrant Capital Group LLC acquired a new stake in MAC Copper in the fourth quarter worth about $26,000. Signaturefd LLC acquired a new stake in MAC Copper in the fourth quarter worth about $36,000. Price T Rowe Associates Inc. MD boosted its stake in MAC Copper by 22.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 21,679 shares of the company's stock worth $231,000 after purchasing an additional 4,026 shares in the last quarter. Finally, Tidal Investments LLC lifted its stake in shares of MAC Copper by 33.6% during the fourth quarter. Tidal Investments LLC now owns 17,982 shares of the company's stock worth $191,000 after buying an additional 4,524 shares during the period. 87.47% of the stock is currently owned by institutional investors.

MAC Copper Company Profile

Metals Acquisition Limited focuses on mining and production of copper and silver. It operates the CSA copper mine in Cobar, Australia. The company was incorporated in 2022 and is headquartered in Saint Helier, Jersey.

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