Canaccord Genuity Group cut shares of MAC Copper (NYSE:MTAL - Free Report) from a strong-buy rating to a hold rating in a report issued on Friday, MarketBeat Ratings reports.
Other analysts also recently issued reports about the stock. National Bank Financial downgraded shares of MAC Copper from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 30th. BMO Capital Markets reiterated a "market perform" rating and set a $12.25 price target (up previously from $11.00) on shares of MAC Copper in a report on Tuesday, June 3rd. Finally, Scotiabank reissued a "sector perform" rating and set a $13.00 price target on shares of MAC Copper in a research report on Tuesday, May 27th.
View Our Latest Analysis on MAC Copper
MAC Copper Stock Down 0.2%
NYSE:MTAL traded down $0.03 during trading hours on Friday, reaching $12.02. 377,454 shares of the company traded hands, compared to its average volume of 370,942. The company has a quick ratio of 0.97, a current ratio of 1.12 and a debt-to-equity ratio of 0.63. The business's 50-day moving average price is $11.36 and its two-hundred day moving average price is $10.53. MAC Copper has a 1 year low of $7.69 and a 1 year high of $14.79.
Institutional Trading of MAC Copper
A number of large investors have recently made changes to their positions in MTAL. Mudita Advisors LLP boosted its holdings in MAC Copper by 38.3% in the first quarter. Mudita Advisors LLP now owns 435,400 shares of the company's stock worth $4,154,000 after purchasing an additional 120,600 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of MAC Copper by 50.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 257,397 shares of the company's stock valued at $2,456,000 after buying an additional 86,197 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of MAC Copper in the 1st quarter worth $287,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of MAC Copper by 2.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,914,921 shares of the company's stock worth $18,268,000 after acquiring an additional 49,499 shares during the period. Finally, Nuveen LLC bought a new stake in shares of MAC Copper in the first quarter worth $1,271,000. 87.47% of the stock is currently owned by institutional investors.
MAC Copper Company Profile
(
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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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