MAC Copper Limited (NYSE:MTAL) Short Interest Up 465.7% in August

Key Points

• Short interest surged 465.7% in August, rising from 207 shares on August 15 to 1,171 shares on August 31. Despite the increase, short interest represented 0.0% of outstanding shares.
• Analyst sentiment remains mixed: Weiss Ratings downgraded MAC Copper to “sell (e),” while the broader analyst consensus is “Moderate Buy,” based on one Strong Buy and one Sell rating.
• Institutional investors own 87.47% of the company, with several funds increasing their positions. The stock recently traded at $10.18, near its 52-week low of $10.00.

MAC Copper Limited (NYSE:MTAL - Get Free Report) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totaling 1,171 shares, an increase of 465.7% from the August 15th total of 207 shares. Currently, 0.0% of the company's shares are sold short. Based on an average daily volume of 84,058 shares, the days-to-cover ratio is presently 0.0 days.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded MAC Copper from a "sell (d-)" rating to a "sell (e)" rating in a research report on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, MAC Copper has a consensus rating of "Moderate Buy".

Institutional Trading of MAC Copper

Hedge funds and other institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. increased its holdings in MAC Copper by 56.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 6,108 shares of the company's stock worth $74,000 after purchasing an additional 2,197 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of MAC Copper by 10,692.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,806 shares of the company's stock valued at $34,000 after buying an additional 2,780 shares during the period. Parallel Advisors LLC acquired a new position in shares of MAC Copper during the third quarter worth about $44,000. Tidal Investments LLC lifted its stake in MAC Copper by 18.8% in the second quarter. Tidal Investments LLC now owns 23,990 shares of the company's stock worth $290,000 after acquiring an additional 3,788 shares during the last quarter. Finally, Creative Planning grew its holdings in MAC Copper by 15.0% during the 3rd quarter. Creative Planning now owns 32,070 shares of the company's stock worth $392,000 after acquiring an additional 4,184 shares in the last quarter. Institutional investors and hedge funds own 87.47% of the company's stock.

MAC Copper Stock Performance

NYSE:MTAL traded down $0.03 during mid-day trading on Friday, hitting $10.18. 93,497 shares of the stock traded hands, compared to its average volume of 63,016. MAC Copper has a 52 week low of $10.00 and a 52 week high of $11.80. The firm's 50 day moving average is $10.20 and its two-hundred day moving average is $10.68.

About MAC Copper

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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