Metals Acquisition Limited (NYSE:MTAL - Get Free Report)'s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $14.14, but opened at $13.57. Metals Acquisition shares last traded at $13.71, with a volume of 11,212 shares traded.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on the company. Scotiabank assumed coverage on Metals Acquisition in a report on Monday, March 4th. They set a "sector outperform" rating and a $14.50 price target for the company. BMO Capital Markets downgraded shares of Metals Acquisition from an "outperform" rating to a "market perform" rating and decreased their price target for the company from $13.00 to $12.00 in a research note on Tuesday. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $13.58.
Check Out Our Latest Report on MTAL
Metals Acquisition Price Performance
The stock has a fifty day moving average price of $13.19 and a 200 day moving average price of $11.97. The company has a quick ratio of 0.23, a current ratio of 0.31 and a debt-to-equity ratio of 1.45.
Hedge Funds Weigh In On Metals Acquisition
Several institutional investors have recently made changes to their positions in the company. Regal Partners Ltd boosted its holdings in shares of Metals Acquisition by 1.2% in 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. Kepos Capital LP acquired a new position in Metals Acquisition during the 3rd quarter valued at about $210,000. Tuttle Capital Management LLC purchased a new stake in Metals Acquisition in the first quarter valued at about $517,000. Adage Capital Partners GP L.L.C. boosted its holdings in 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 acquiring an additional 64,616 shares in the last quarter. Finally, Platinum Investment Management Ltd. grew its stake 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 acquiring an additional 199,898 shares during the last quarter. Hedge funds and other institutional investors own 87.47% of the company's stock.
Metals Acquisition Company Profile
(
Get Free Report)
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.
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