Metals Acquisition (NYSE:MTAL) Sees Unusually-High Trading Volume - Here's What Happened

Metals Acquisition Limited (NYSE:MTAL - Get Free Report) saw an uptick in trading volume on Wednesday . 320,012 shares were traded during mid-day trading, a decline of 5% from the previous session's volume of 336,351 shares.The stock last traded at $12.22 and had previously closed at $12.29.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MTAL. National Bank Financial lowered Metals Acquisition from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 30th. Scotiabank reiterated a "sector perform" rating and set a $13.00 price target on shares of Metals Acquisition in a report on Tuesday, May 27th. Finally, BMO Capital Markets initiated coverage on shares of Metals Acquisition in a report on Wednesday, April 16th. They issued an "outperform" rating and a $11.00 price target on the stock.

Metals Acquisition Stock Performance

The company has a debt-to-equity ratio of 0.85, a current ratio of 0.84 and a quick ratio of 0.69. The stock has a 50-day moving average price of $9.47 and a two-hundred day moving average price of $10.52.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MTAL. Quadrant Capital Group LLC purchased a new stake in shares of Metals Acquisition in the 4th quarter worth about $26,000. Signaturefd LLC purchased a new position in shares of Metals Acquisition during the 4th quarter worth approximately $36,000. Orion Portfolio Solutions LLC bought a new position in shares of Metals Acquisition in the 4th quarter worth approximately $119,000. ProShare Advisors LLC raised its position in shares of Metals Acquisition by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 15,170 shares of the company's stock worth $161,000 after acquiring an additional 4,990 shares in the last quarter. Finally, Tidal Investments LLC lifted its stake in shares of Metals Acquisition by 33.6% in the 4th quarter. Tidal Investments LLC now owns 17,982 shares of the company's stock valued at $191,000 after purchasing an additional 4,524 shares during the period. 87.47% of the stock is owned by hedge funds and other institutional investors.

About Metals Acquisition

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.