Stock Traders Purchase High Volume of Call Options on Metalla Royalty & Streaming (NYSEAMERICAN:MTA)

Key Points

• Unusual options activity: Traders purchased 5,416 call options on Metalla Royalty & Streaming, representing a 2,234% increase over the typical daily volume of 232 calls.
• Analyst outlook: Scotiabank lowered its price target from $9.00 to $8.50 and maintained a “sector perform” rating. Overall, analysts rate the stock “Moderate Buy,” with an average price target of $8.50.
• Stock and ownership update: Shares rose 5.6% to $9.58, near the 12-month high of $9.87, while institutional investors own 17.82% of the company.

Metalla Royalty & Streaming Ltd. (NYSEAMERICAN:MTA - Get Free Report) was the recipient of some unusual options trading on Friday. Traders purchased 5,416 call options on the stock. This is an increase of 2,234% compared to the typical daily volume of 232 call options.

Analysts Set New Price Targets

Separately, Scotiabank cut their target price on shares of Metalla Royalty & Streaming from $9.00 to $8.50 and set a "sector perform" rating on the stock in a research note on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $8.50.

Hedge Funds Weigh In On Metalla Royalty & Streaming

Several hedge funds and other institutional investors have recently bought and sold shares of MTA. Banque Cantonale Vaudoise purchased a new position in shares of Metalla Royalty & Streaming during the fourth quarter valued at approximately $31,000. Global Retirement Partners LLC bought a new position in Metalla Royalty & Streaming in the 4th quarter worth $34,000. Kestra Advisory Services LLC bought a new position in shares of Metalla Royalty & Streaming in the fourth quarter worth about $39,000. Wexford Capital LP purchased a new position in Metalla Royalty & Streaming during the third quarter valued at approximately $41,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of Metalla Royalty & Streaming by 42.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 14,071 shares of the company's stock valued at $54,000 after buying an additional 4,171 shares in the last quarter. Institutional investors own 17.82% of the company's stock.

Metalla Royalty & Streaming Stock Up 5.6%

Shares of NYSEAMERICAN MTA traded up $0.51 during trading on Friday, reaching $9.58. The company had a trading volume of 381,052 shares, compared to its average volume of 508,247. The stock has a market cap of $895.73 million, a PE ratio of -239.25 and a beta of 1.35. The company has a quick ratio of 3.45, a current ratio of 3.45 and a debt-to-equity ratio of 0.05. Metalla Royalty & Streaming has a 12-month low of $4.09 and a 12-month high of $9.87. The business's 50-day moving average is $7.53 and its 200 day moving average is $7.47.

About Metalla Royalty & Streaming

Metalla Royalty & Streaming Ltd. is a Canada‐based precious metals royalty and streaming company focused on acquiring and managing royalties and streams on mineral properties. Headquartered in Vancouver, British Columbia, the firm provides financing to mining operators by purchasing royalty and stream interests that grant it a share of future metal production or revenues. These non‐dilutive arrangements enable Metalla to participate in the upside of mining projects without the operational risks associated with direct mine ownership.

The company’s portfolio spans a broad range of precious and battery metals, including gold, silver, copper, nickel and cobalt.

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