Metalla Royalty & Streaming (NYSEAMERICAN:MTA) Shares Up 4.7% - Here's What Happened

Key Points

• Metalla shares rose 4.7% to $8.09, with trading volume up 62% from the average session volume.
• Scotiabank cut its price target from $9.00 to $8.50 and maintained a “sector perform” rating. The analyst consensus is “Hold,” with an average target of $8.50.
• Institutional investors own 17.82% of the company; several funds increased their holdings in the latest reported quarter.

Metalla Royalty & Streaming Ltd. (NYSEAMERICAN:MTA - Get Free Report) traded up 4.7% on Friday. The stock traded as high as $8.11 and last traded at $8.09. Approximately 563,751 shares traded hands during mid-day trading, an increase of 62% from the average session volume of 348,097 shares. The stock had previously closed at $7.73.

Wall Street Analyst Weigh In

Separately, Scotiabank dropped their price objective on Metalla Royalty & Streaming from $9.00 to $8.50 and set a "sector perform" rating for the company in a report on Tuesday, July 14th. One equities research analyst has rated the stock with a Hold rating. According to data from MarketBeat, Metalla Royalty & Streaming has an average rating of "Hold" and an average price target of $8.50.

Metalla Royalty & Streaming Stock Performance

The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.50 and a current ratio of 4.50. The firm has a market cap of $762.32 million, a P/E ratio of -809.00 and a beta of 1.45. The firm's fifty day moving average price is $9.00 and its 200 day moving average price is $8.03.

Institutional Trading of Metalla Royalty & Streaming

A number of hedge funds have recently bought and sold shares of the stock. StoneX Group Inc. purchased a new stake in shares of Metalla Royalty & Streaming during the third quarter valued at about $137,000. Parallel Advisors LLC raised its stake in shares of Metalla Royalty & Streaming by 75.5% during the 3rd quarter. Parallel Advisors LLC now owns 5,433 shares of the company's stock worth $51,000 after acquiring an additional 2,337 shares in the last quarter. Alps Advisors Inc. raised its stake in shares of Metalla Royalty & Streaming by 4.4% during the 3rd quarter. Alps Advisors Inc. now owns 306,597 shares of the company's stock worth $2,888,000 after acquiring an additional 13,008 shares in the last quarter. CenterBook Partners LP raised its stake in shares of Metalla Royalty & Streaming by 47.1% during the 3rd quarter. CenterBook Partners LP now owns 181,212 shares of the company's stock worth $1,707,000 after acquiring an additional 58,024 shares in the last quarter. Finally, McAlvany Wealth Management LLC lifted its position in Metalla Royalty & Streaming by 1.2% during the third quarter. McAlvany Wealth Management LLC now owns 151,183 shares of the company's stock valued at $1,424,000 after acquiring an additional 1,803 shares during the last quarter. Hedge funds and other institutional investors own 17.82% of the company's stock.

Metalla Royalty & Streaming Company Profile

Metalla Royalty & Streaming Ltd. is a precious-metals royalty and streaming company focused primarily on gold and silver assets. Rather than operating mines directly, the company provides capital or acquires existing interests in exchange for the right to receive a portion of future metal production or revenue from mining projects.

Metalla's portfolio includes royalties and streams covering producing, development-stage and exploration projects. Its interests are located across established mining jurisdictions in the Americas and other regions, and the underlying properties are operated by third-party mining companies.

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