Metalla Royalty & Streaming (NYSEMKT:MTA) Trading Down 0.5% - Here's Why

Key Points

• Metalla Royalty & Streaming Ltd. (NYSEMKT:MTA) saw its stock price decrease by 0.5%, closing at $5.57 after trading as low as $5.48, with a notable trading volume surge of 169% from its average daily volume.
• Analysts from BMO Capital Markets and National Bankshares have upgraded MTA's rating to "outperform", with a consensus rating of "Buy" and a target price of $4.50 based on MarketBeat data.
• Several institutional investors have increased their stakes in Metalla, with Euro Pacific Asset Management boosting its holdings by 11.8% and Raymond James Financial raising theirs by over 2,230% during the second quarter.

Metalla Royalty & Streaming Ltd. (NYSEMKT:MTA - Get Free Report)'s stock price dropped 0.5% during trading on Tuesday . The stock traded as low as $5.48 and last traded at $5.57. Approximately 787,969 shares were traded during trading, an increase of 169% from the average daily volume of 293,426 shares. The stock had previously closed at $5.60.

Analysts Set New Price Targets

MTA has been the subject of several research analyst reports. BMO Capital Markets upgraded shares of Metalla Royalty & Streaming from a "market perform" rating to an "outperform" rating in a research note on Wednesday, June 25th. National Bankshares reiterated an "outperform" rating on shares of Metalla Royalty & Streaming in a research note on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $4.50.

Metalla Royalty & Streaming Trading Down 0.2%

The firm's 50 day moving average is $4.39 and its two-hundred day moving average is $3.54. The firm has a market cap of $514.51 million, a P/E ratio of -69.50 and a beta of 1.43.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MTA. Euro Pacific Asset Management LLC boosted its stake in Metalla Royalty & Streaming by 11.8% during the 2nd quarter. Euro Pacific Asset Management LLC now owns 5,657,905 shares of the company's stock worth $21,720,000 after acquiring an additional 596,472 shares during the last quarter. Insigneo Advisory Services LLC bought a new position in Metalla Royalty & Streaming during the 2nd quarter worth approximately $1,371,000. Raymond James Financial Inc. boosted its stake in Metalla Royalty & Streaming by 2,230.4% during the 2nd quarter. Raymond James Financial Inc. now owns 280,508 shares of the company's stock worth $1,077,000 after acquiring an additional 268,471 shares during the last quarter. Walleye Capital LLC bought a new position in Metalla Royalty & Streaming during the 2nd quarter worth approximately $562,000. Finally, Marshall Wace LLP boosted its stake in Metalla Royalty & Streaming by 32.0% during the 2nd quarter. Marshall Wace LLP now owns 419,373 shares of the company's stock worth $1,610,000 after acquiring an additional 101,716 shares during the last quarter. Institutional investors own 17.82% of the company's stock.

About Metalla Royalty & Streaming

Metalla Royalty & Streaming Ltd., a precious metals royalty and streaming company, engages in the acquisition and management of gold, silver, copper royalties, streams, and related production-based interests in Canada. It operates in Australia, Argentina, Mexico, Canada, Tanzania, Ecuador, Peru, Chile, Brazil, Venezuela, and the United States.

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