Metals Acquisition Limited (NYSE:MTAL - Get Free Report) saw strong trading volume on Monday . 110,092 shares changed hands during trading, an increase of 34% from the previous session's volume of 82,118 shares.The stock last traded at $13.66 and had previously closed at $13.89.
Analyst Upgrades and Downgrades
Separately, Scotiabank initiated coverage on Metals Acquisition in a research report on Monday, March 4th. They set a "sector outperform" rating and a $14.50 price objective on the stock. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $13.92.
Check Out Our Latest Stock Analysis on Metals Acquisition
Metals Acquisition Stock Performance
The company has a current ratio of 0.31, a quick ratio of 0.23 and a debt-to-equity ratio of 1.45. The firm's fifty day moving average is $12.82 and its 200 day moving average is $11.73.
Institutional Trading of Metals Acquisition
Several institutional investors and hedge funds have recently made changes to their positions in the business. Sprott Inc. purchased a new stake in shares of Metals Acquisition in the third quarter valued at approximately $17,970,000. CI Investments Inc. bought a new position in shares of Metals Acquisition during the 3rd quarter worth $6,676,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund grew its position 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 worth $44,159,000 after buying an additional 272,727 shares in the last quarter. Platinum Investment Management Ltd. increased 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 valued at $27,640,000 after buying an additional 199,898 shares during the period. Finally, Adage Capital Partners GP L.L.C. raised its holdings 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 valued at $8,232,000 after acquiring an additional 64,616 shares in the last quarter. 87.47% of the stock is currently owned by institutional investors.
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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