National Bank Financial Equities Analysts Decrease Earnings Estimates for Metals Acquisition Limited (NYSE:MTAL)

Metals Acquisition Limited (NYSE:MTAL - Free Report) - Stock analysts at National Bank Financial cut their FY2024 earnings per share estimates for Metals Acquisition in a research report issued to clients and investors on Tuesday, April 23rd. National Bank Financial analyst S. Nagle now anticipates that the company will post earnings per share of $0.95 for the year, down from their previous estimate of $1.11. The consensus estimate for Metals Acquisition's current full-year earnings is ($0.27) per share. National Bank Financial also issued estimates for Metals Acquisition's FY2025 earnings at $0.91 EPS.

Separately, Scotiabank started coverage on shares of Metals Acquisition in a research report on Monday, March 4th. They set a "sector outperform" rating and a $14.50 target price for the company. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $13.92.

Metals Acquisition Stock Up 2.0 %

NYSE MTAL traded up $0.26 during trading hours on Thursday, reaching $13.48. The company's stock had a trading volume of 184,201 shares, compared to its average volume of 71,101. The company has a quick ratio of 0.23, a current ratio of 0.31 and a debt-to-equity ratio of 1.45. Metals Acquisition has a 1 year low of $8.49 and a 1 year high of $14.11. The firm's 50-day moving average price is $12.76 and its 200-day moving average price is $11.71.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Tuttle Capital Management LLC bought a new stake in shares of Metals Acquisition during the 1st quarter worth approximately $517,000. Platinum Investment Management Ltd. lifted its position in shares of Metals Acquisition by 9.8% during the fourth quarter. Platinum Investment Management Ltd. now owns 2,236,246 shares of the company's stock worth $27,640,000 after purchasing an additional 199,898 shares during the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund lifted its position in shares of Metals Acquisition by 8.3% during the fourth quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 3,572,728 shares of the company's stock worth $44,159,000 after purchasing an additional 272,727 shares during the last quarter. Sprott Inc. purchased a new stake in shares of Metals Acquisition during the third quarter valued at $17,970,000. Finally, Regal Partners Ltd increased its stake in Metals Acquisition by 1.2% in the 3rd quarter. Regal Partners Ltd now owns 303,705 shares of the company's stock worth $3,638,000 after buying an additional 3,705 shares during the period. Institutional investors own 87.47% of the company's stock.

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.