Metals Acquisition (NYSE:MTAL) Sees Large Volume Increase

Metals Acquisition Limited (NYSE:MTALGet Free Report) shares saw unusually-strong trading volume on Thursday . Approximately 363,138 shares traded hands during trading, an increase of 136% from the previous session’s volume of 154,056 shares.The stock last traded at $14.29 and had previously closed at $14.36.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on MTAL shares. BMO Capital Markets downgraded Metals Acquisition from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $13.00 to $12.00 in a report on Tuesday, May 21st. Scotiabank lifted their price objective on Metals Acquisition from $15.50 to $17.00 and gave the company a “sector outperform” rating in a report on Thursday, May 30th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $14.00.

Get Our Latest Report on MTAL

Metals Acquisition Stock Performance

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 firm has a fifty day moving average price of $13.56 and a 200 day moving average price of $12.32.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund boosted its holdings 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 acquiring an additional 272,727 shares in the last quarter. Sprott Inc. bought a new position in Metals Acquisition in the 3rd quarter worth approximately $17,970,000. Adage Capital Partners GP L.L.C. raised its position in Metals Acquisition by 10.4% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 687,139 shares of the company’s stock worth $8,232,000 after purchasing an additional 64,616 shares during the last quarter. CI Investments Inc. bought a new position in Metals Acquisition in the 3rd quarter worth approximately $6,676,000. Finally, Kepos Capital LP bought a new position in Metals Acquisition in the 3rd quarter worth approximately $210,000. 87.47% of the stock is owned by institutional investors and hedge funds.

Metals Acquisition Company Profile

(Get Free Report)

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.

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