Metalla Royalty & Streaming (NYSEAMERICAN:MTA) Stock Price Down 0.9% - What's Next?

Key Points

• Metalla Royalty & Streaming shares fell 0.9% to $9.19 in Friday trading, with about 233,000 shares changing hands.
• Scotiabank lowered its price target from $9.00 to $8.50 while maintaining a “sector perform” rating. Analysts’ consensus remains “Moderate Buy,” with an average target of $8.50.
• Institutional interest has increased, including a 210.2% holding expansion by Renaissance Technologies; institutional investors and hedge funds now own 17.82% of the company.

Metalla Royalty & Streaming Ltd. (NYSEAMERICAN:MTA - Get Free Report) traded down 0.9% during trading on Friday. The stock traded as low as $9.17 and last traded at $9.19. Approximately 232,994 shares traded hands during mid-day trading, a decline of 2% from the average session volume of 236,862 shares. The stock had previously closed at $9.27.

Wall Street Analysts Forecast Growth

Separately, Scotiabank cut their price target on shares of 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 investment analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $8.50.

Metalla Royalty & Streaming Stock Performance

The firm has a market cap of $863.77 million, a price-to-earnings ratio of -919.00 and a beta of 1.42. The company has a current ratio of 4.50, a quick ratio of 4.50 and a debt-to-equity ratio of 0.05. The stock has a fifty day moving average price of $9.65 and a 200 day moving average price of $8.00.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC increased its holdings in shares of Metalla Royalty & Streaming by 210.2% in the first quarter. Renaissance Technologies LLC now owns 451,948 shares of the company's stock valued at $2,996,000 after purchasing an additional 306,248 shares in the last quarter. Louisbourg Investments Inc. acquired a new stake in shares of Metalla Royalty & Streaming in the first quarter valued at about $2,314,000. Arrowstreet Capital Limited Partnership increased its holdings in Metalla Royalty & Streaming by 50.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 254,304 shares of the company's stock worth $1,641,000 after buying an additional 85,201 shares during the last quarter. McAlvany Wealth Management LLC acquired a new position in shares of Metalla Royalty & Streaming during the 4th quarter worth about $1,071,000. Finally, K2 Principal Fund L.P. acquired a new position in Metalla Royalty & Streaming during the fourth quarter worth approximately $543,000. 17.82% of the stock is currently owned by institutional investors and hedge funds.

About Metalla Royalty & Streaming

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 interests in mining projects in exchange for future payments, a percentage of metal production or the right to purchase metals at agreed-upon prices.

Metalla's portfolio includes royalties and streams tied to producing, development-stage and exploration-stage projects. Its interests are located in established mining jurisdictions, including Canada, the United States and Australia, and are operated by third-party mining companies.

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