Metals Acquisition (NYSE:MTAL) Shares Gap Down to $12.85

Metals Acquisition Limited (NYSE:MTAL - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $12.85, but opened at $12.51. Metals Acquisition shares last traded at $12.00, with a volume of 288,731 shares trading hands.

Wall Street Analyst Weigh In

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

Metals Acquisition Stock Down 3.0 %

The company's fifty day moving average is $12.92 and its 200-day moving average is $11.80. The company has a quick ratio of 0.23, a current ratio of 0.31 and a debt-to-equity ratio of 1.45.

Institutional Investors Weigh In On Metals Acquisition

A number of institutional investors have recently added to or reduced their stakes in the stock. Tuttle Capital Management LLC purchased a new stake in Metals Acquisition during the 1st quarter valued at approximately $517,000. Platinum Investment Management Ltd. grew its holdings in 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 buying an additional 199,898 shares in the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund grew its holdings in 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 buying an additional 272,727 shares in the last quarter. Sprott Inc. purchased a new stake in Metals Acquisition during the 3rd quarter valued at approximately $17,970,000. Finally, Regal Partners Ltd grew its holdings in Metals Acquisition by 1.2% during the 3rd quarter. Regal Partners Ltd now owns 303,705 shares of the company's stock valued at $3,638,000 after buying an additional 3,705 shares in the last quarter. 87.47% of the stock is owned by hedge funds and other institutional investors.

Metals Acquisition Company Profile

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.