Metals Acquisition Limited (NYSE:MTAL) Given Average Rating of “Buy” by Analysts

Metals Acquisition Limited (NYSE:MTAL) has been assigned an average rating of “Buy” from the five analysts that are covering the company, Marketbeat reports. Five investment analysts have rated the stock with a buy rating. The average 1-year target price among brokerages that have covered the stock in the last year is $13.92.

Separately, Scotiabank initiated coverage on Metals Acquisition in a research note on Monday, March 4th. They set a “sector outperform” rating and a $14.50 price objective for the company.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund lifted its position in shares of Metals Acquisition by 8.3% in the 4th quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 3,572,728 shares of the company’s stock worth $44,159,000 after purchasing an additional 272,727 shares during the period. Platinum Investment Management Ltd. raised its stake in Metals Acquisition by 9.8% in the fourth quarter. Platinum Investment Management Ltd. now owns 2,236,246 shares of the company’s stock worth $27,640,000 after buying an additional 199,898 shares in the last quarter. Sprott Inc. purchased a new stake in Metals Acquisition in the third quarter worth about $17,970,000. Adage Capital Partners GP L.L.C. boosted its position in Metals Acquisition by 10.4% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 687,139 shares of the company’s stock valued at $8,232,000 after acquiring an additional 64,616 shares in the last quarter. Finally, CI Investments Inc. purchased a new position in shares of Metals Acquisition during the 3rd quarter worth approximately $6,676,000. Institutional investors own 87.47% of the company’s stock.

Metals Acquisition Stock Up 1.8 %

Shares of MTAL stock opened at $13.08 on Tuesday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.23 and a current ratio of 0.31. The business has a 50-day moving average of $12.71 and a 200 day moving average of $11.68. Metals Acquisition has a 1-year low of $8.49 and a 1-year high of $14.11.

About Metals Acquisition

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.