Metals Acquisition Limited (NYSE:MTAL) Expected to Earn FY2024 Earnings of $0.95 Per Share

Metals Acquisition Limited (NYSE:MTAL) – Equities research analysts at National Bank Financial cut their FY2024 earnings per share (EPS) estimates for Metals Acquisition in a note issued to investors on Tuesday, April 23rd. National Bank Financial analyst S. Nagle now anticipates that the company will earn $0.95 per share for the year, down from their previous estimate of $1.11. The consensus estimate for Metals Acquisition’s current full-year earnings is ($0.27) per share. National Bank Financial also issued estimates for Metals Acquisition’s FY2025 earnings at $0.91 EPS.

Separately, Scotiabank initiated coverage on shares of Metals Acquisition in a research report on Monday, March 4th. They set a “sector outperform” rating and a $14.50 price objective on the stock. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $13.92.

Metals Acquisition Stock Performance

NYSE MTAL opened at $13.48 on Thursday. Metals Acquisition has a 1 year low of $8.49 and a 1 year high of $14.11. The company has a quick ratio of 0.23, a current ratio of 0.31 and a debt-to-equity ratio of 1.45. The business’s fifty day moving average is $12.78 and its two-hundred day moving average is $11.72.

Hedge Funds Weigh In On Metals Acquisition

Several institutional investors and hedge funds have recently modified their holdings of MTAL. Kepos Capital LP acquired a new position in Metals Acquisition during the 3rd quarter worth $210,000. Tuttle Capital Management LLC bought a new stake in Metals Acquisition during the first quarter worth about $517,000. Regal Partners Ltd grew its stake in shares of Metals Acquisition by 1.2% during the third quarter. Regal Partners Ltd now owns 303,705 shares of the company’s stock valued at $3,638,000 after purchasing an additional 3,705 shares during the last quarter. CI Investments Inc. acquired a new stake in shares of Metals Acquisition in the third quarter valued at approximately $6,676,000. Finally, Adage Capital Partners GP L.L.C. increased its holdings in shares of Metals Acquisition by 10.4% in the third quarter. Adage Capital Partners GP L.L.C. now owns 687,139 shares of the company’s stock valued at $8,232,000 after purchasing an additional 64,616 shares in the last quarter. 87.47% of the stock is currently owned by hedge funds and other institutional investors.

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.