Short Interest in Metals Acquisition Limited (NYSE:MTAL) Rises By 26.3%

Metals Acquisition Limited (NYSE:MTAL - Get Free Report) was the target of a significant increase in short interest in March. As of March 31st, there was short interest totalling 2,110,000 shares, an increase of 26.3% from the March 15th total of 1,670,000 shares. Based on an average daily trading volume, of 343,400 shares, the days-to-cover ratio is presently 6.1 days. Currently, 3.9% of the shares of the company are sold short.

Wall Street Analyst Weigh In

A number of analysts have commented on MTAL shares. Scotiabank reduced their price objective on Metals Acquisition from $16.00 to $14.50 and set a "sector outperform" rating for the company in a research report on Monday, January 6th. BMO Capital Markets started coverage on Metals Acquisition in a research note on Wednesday, April 16th. They set an "outperform" rating and a $11.00 price objective for the company.

Institutional Investors Weigh In On Metals Acquisition

A number of large investors have recently bought and sold shares of the business. Squarepoint Ops LLC bought a new position in Metals Acquisition in the 4th quarter valued at $235,000. Tidal Investments LLC lifted its position in Metals Acquisition by 33.6% during the 4th quarter. Tidal Investments LLC now owns 17,982 shares of the company's stock worth $191,000 after buying an additional 4,524 shares in the last quarter. SailingStone Capital Partners LLC lifted its position in Metals Acquisition by 3.9% during the 4th quarter. SailingStone Capital Partners LLC now owns 2,633,391 shares of the company's stock worth $27,967,000 after buying an additional 98,925 shares in the last quarter. ProShare Advisors LLC grew its holdings in Metals Acquisition by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 15,170 shares of the company's stock worth $161,000 after acquiring an additional 4,990 shares during the last quarter. Finally, Millennium Management LLC increased its position in Metals Acquisition by 11.2% in the 4th quarter. Millennium Management LLC now owns 2,028,073 shares of the company's stock valued at $21,538,000 after acquiring an additional 204,439 shares in the last quarter. 87.47% of the stock is currently owned by institutional investors.

Metals Acquisition Trading Down 0.3 %

Metals Acquisition stock traded down $0.03 during trading hours on Friday, hitting $9.58. 244,048 shares of the stock were exchanged, compared to its average volume of 327,253. The business's 50-day moving average is $9.71 and its two-hundred day moving average is $11.00. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.84 and a quick ratio of 0.69. Metals Acquisition has a 12 month low of $7.69 and a 12 month high of $15.26.

Metals Acquisition Company Profile

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.