Metals Acquisition (NYSE:MTAL) Downgraded by BMO Capital Markets

Metals Acquisition (NYSE:MTAL - Get Free Report) was downgraded by stock analysts at BMO Capital Markets from an "outperform" rating to a "market perform" rating in a note issued to investors on Tuesday, Marketbeat reports. They currently have a $12.00 price objective on the stock, down from their prior price objective of $13.00. BMO Capital Markets' price target indicates a potential downside of 12.02% from the stock's current price.

Separately, Scotiabank initiated coverage on Metals Acquisition in a report on Monday, March 4th. They set a "sector outperform" rating and a $14.50 price objective for the company. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, Metals Acquisition currently has a consensus rating of "Moderate Buy" and a consensus target price of $13.58.

Metals Acquisition Trading Down 3.5 %

Shares of MTAL traded down $0.50 during trading hours on Tuesday, reaching $13.64. 471,206 shares of the company's stock traded hands, compared to its average volume of 139,663. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.23 and a current ratio of 0.31. Metals Acquisition has a 12 month low of $8.49 and a 12 month high of $14.49. The firm's 50 day simple moving average is $13.22 and its 200-day simple moving average is $11.98.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of MTAL. Sprott Inc. acquired a new position in shares of Metals Acquisition during the third quarter worth $17,970,000. CI Investments Inc. purchased a new stake in shares of Metals Acquisition in the third quarter valued at $6,676,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund grew its holdings in shares of Metals Acquisition by 8.3% during the 4th 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 valued at $44,159,000 after acquiring an additional 272,727 shares in the last quarter. Platinum Investment Management Ltd. raised its holdings in shares of Metals Acquisition by 9.8% during the 4th quarter. Platinum Investment Management Ltd. now owns 2,236,246 shares of the company's stock valued at $27,640,000 after purchasing an additional 199,898 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its stake in shares of Metals Acquisition by 10.4% in the third quarter. Adage Capital Partners GP L.L.C. now owns 687,139 shares of the company's stock worth $8,232,000 after buying an additional 64,616 shares during the last quarter. Institutional investors and hedge funds 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.