MAC Copper Limited (NYSE:MTAL) Receives $12.63 Consensus Price Target from Brokerages

MAC Copper Limited (NYSE:MTAL) has been assigned an average recommendation of “Hold” from the six research firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $12.6250.

Several equities analysts recently commented on MTAL shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of MAC Copper in a research note on Wednesday, October 8th. Zacks Research upgraded MAC Copper from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 25th. Finally, Canaccord Genuity Group cut MAC Copper from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 11th.

Hedge Funds Weigh In On MAC Copper

A number of institutional investors have recently made changes to their positions in MTAL. Ameritas Investment Partners Inc. boosted its holdings in shares of MAC Copper by 38.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,288 shares of the company’s stock worth $88,000 after purchasing an additional 2,011 shares in the last quarter. Russell Investments Group Ltd. boosted its position in MAC Copper by 56.2% during the second quarter. Russell Investments Group Ltd. now owns 6,108 shares of the company’s stock valued at $74,000 after buying an additional 2,197 shares during the period. EverSource Wealth Advisors LLC increased its stake in MAC Copper by 10,692.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,806 shares of the company’s stock worth $34,000 after purchasing an additional 2,780 shares during the period. ProShare Advisors LLC increased its stake in MAC Copper by 25.5% in the 2nd quarter. ProShare Advisors LLC now owns 14,637 shares of the company’s stock worth $177,000 after purchasing an additional 2,977 shares during the period. Finally, State of Alaska Department of Revenue bought a new stake in MAC Copper during the 3rd quarter valued at $43,000. Institutional investors own 87.47% of the company’s stock.

MAC Copper Stock Performance

NYSE MTAL opened at $12.21 on Tuesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.45 and a current ratio of 0.58. MAC Copper has a 52-week low of $7.69 and a 52-week high of $13.88. The company has a 50-day simple moving average of $12.19 and a 200 day simple moving average of $11.55.

About MAC Copper

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.