Shares of Metals Acquisition Limited (NYSE:MTAL - Get Free Report) were up 3.1% during mid-day trading on Thursday . The stock traded as high as $13.59 and last traded at $13.49. Approximately 106,949 shares traded hands during trading, a decline of 24% from the average daily volume of 140,714 shares. The stock had previously closed at $13.09.
Analyst Ratings Changes
Several equities analysts have issued reports on MTAL shares. BMO Capital Markets lowered Metals Acquisition from an "outperform" rating to a "market perform" rating and dropped their price objective for the stock from $13.00 to $12.00 in a report on Tuesday. Scotiabank started coverage on Metals Acquisition in a report on Monday, March 4th. They set a "sector outperform" rating and a $14.50 price objective on the stock. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Metals Acquisition currently has an average rating of "Moderate Buy" and a consensus price target of $13.58.
View Our Latest Stock Analysis on MTAL
Metals Acquisition Price Performance
The firm's 50 day moving average price is $13.25 and its two-hundred day moving average price is $12.00. The company has a current ratio of 0.31, a quick ratio of 0.23 and a debt-to-equity ratio of 1.45.
Institutional Investors Weigh In On Metals Acquisition
A number of hedge funds have recently added to or reduced their stakes in the company. Tuttle Capital Management LLC acquired a new stake in Metals Acquisition in the first quarter valued at about $517,000. Platinum Investment Management Ltd. lifted its position in Metals Acquisition by 9.8% in the fourth 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 during the period. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund lifted its position in Metals Acquisition by 8.3% in 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 valued at $44,159,000 after purchasing an additional 272,727 shares during the period. Sprott Inc. acquired a new stake in Metals Acquisition in the third quarter valued at about $17,970,000. Finally, Regal Partners Ltd lifted its position in shares of 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 acquiring an additional 3,705 shares during the period. Institutional investors and hedge funds own 87.47% of the company's stock.
About Metals Acquisition
(
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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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