Metalla Royalty & Streaming (NYSEAMERICAN:MTA) Shares Up 1.9% - Here's Why

Key Points

• Metalla Royalty & Streaming shares rose 1.9% to $7.50 in mid-day trading, with volume below the stock’s average daily level.
• Scotiabank lowered its price target from $9.00 to $8.50 and maintained a “sector perform” rating. Analysts’ overall consensus remains “Moderate Buy,” with an $8.50 target price.
• Institutional investors increased their positions substantially in the fourth quarter, although they collectively own 17.82% of the company. Metalla operates a precious-metals royalty and streaming business with exposure to gold, silver, copper, nickel and cobalt.

Metalla Royalty & Streaming Ltd. (NYSEAMERICAN:MTA - Get Free Report) shares rose 1.9% during mid-day trading on Monday . The company traded as high as $7.56 and last traded at $7.50. 312,453 shares changed hands during trading, a decline of 18% from the average daily volume of 379,362 shares. The stock had previously closed at $7.36.

Analyst Upgrades and Downgrades

Separately, Scotiabank reduced their price objective on shares of Metalla Royalty & Streaming from $9.00 to $8.50 and set a "sector perform" rating on the stock in a research report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $8.50.

Metalla Royalty & Streaming Price Performance

The firm's fifty day simple moving average is $7.36 and its 200 day simple moving average is $7.44. The firm has a market cap of $701.25 million, a P/E ratio of -187.50 and a beta of 1.35. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.45 and a current ratio of 3.45.

Hedge Funds Weigh In On Metalla Royalty & Streaming

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Global Strategic Management Inc. bought a new position in shares of Metalla Royalty & Streaming during the 4th quarter valued at approximately $16,183,000. Mackenzie Financial Corp grew its holdings in shares of Metalla Royalty & Streaming by 1,657.8% in the fourth quarter. Mackenzie Financial Corp now owns 731,231 shares of the company's stock valued at $5,557,000 after purchasing an additional 689,631 shares in the last quarter. Sprott Inc. grew its holdings in shares of Metalla Royalty & Streaming by 91.8% in the fourth quarter. Sprott Inc. now owns 1,415,520 shares of the company's stock valued at $11,013,000 after purchasing an additional 677,311 shares in the last quarter. U S Global Investors Inc. increased its position in Metalla Royalty & Streaming by 75.9% in the fourth quarter. U S Global Investors Inc. now owns 1,432,510 shares of the company's stock worth $11,145,000 after purchasing an additional 617,923 shares during the last quarter. Finally, Tudor Investment Corp ET AL increased its position in Metalla Royalty & Streaming by 2,106.0% in the fourth quarter. Tudor Investment Corp ET AL now owns 387,567 shares of the company's stock worth $3,015,000 after purchasing an additional 369,998 shares during the last quarter. 17.82% of the stock is owned by institutional investors.

Metalla Royalty & Streaming Company Profile

Metalla Royalty & Streaming Ltd. is a Canada‐based precious metals royalty and streaming company focused on acquiring and managing royalties and streams on mineral properties. Headquartered in Vancouver, British Columbia, the firm provides financing to mining operators by purchasing royalty and stream interests that grant it a share of future metal production or revenues. These non‐dilutive arrangements enable Metalla to participate in the upside of mining projects without the operational risks associated with direct mine ownership.

The company’s portfolio spans a broad range of precious and battery metals, including gold, silver, copper, nickel and cobalt.

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