Lifezone Metals (NYSE:LZM) Shares Up 5.6% – Still a Buy?

Lifezone Metals Limited (NYSE:LZM) shot up 5.6% during mid-day trading on Tuesday . The stock traded as high as $4.55 and last traded at $4.4670. 333,842 shares changed hands during trading, an increase of 67% from the average session volume of 199,592 shares. The stock had previously closed at $4.23.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on LZM. BTIG Research lowered their price objective on shares of Lifezone Metals from $11.00 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, November 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lifezone Metals in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $7.00.

Lifezone Metals Stock Up 5.6%

The company has a market cap of $349.63 million, a P/E ratio of -0.96 and a beta of 0.65. The business has a 50-day moving average price of $4.94 and a two-hundred day moving average price of $4.72.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Invesco Ltd. boosted its stake in shares of Lifezone Metals by 90.9% in the 4th quarter. Invesco Ltd. now owns 2,840,018 shares of the company’s stock valued at $12,127,000 after purchasing an additional 1,352,119 shares during the last quarter. EdgePoint Investment Group Inc. raised its stake in shares of Lifezone Metals by 32.4% during the fourth quarter. EdgePoint Investment Group Inc. now owns 37,659 shares of the company’s stock worth $161,000 after buying an additional 9,222 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in Lifezone Metals by 7.0% in the fourth quarter. Russell Investments Group Ltd. now owns 269,460 shares of the company’s stock valued at $1,151,000 after buying an additional 17,718 shares during the period. Barclays PLC lifted its holdings in Lifezone Metals by 5.1% in the fourth quarter. Barclays PLC now owns 55,097 shares of the company’s stock valued at $235,000 after buying an additional 2,666 shares during the period. Finally, Marshall Wace LLP boosted its stake in Lifezone Metals by 119.1% in the fourth quarter. Marshall Wace LLP now owns 303,600 shares of the company’s stock valued at $1,296,000 after acquiring an additional 165,035 shares during the last quarter.

Lifezone Metals Company Profile

Lifezone Metals Limited engages in the extraction and refining of metals. It supplies lower-carbon and sulfur dioxide emission metals to the battery storage, EV, and hydrogen markets. The company’s products include nickel, copper, and cobalt. Its flagship project is the Kabanga nickel project in North-West Tanzania. The company is based in Ramsey, Isle of Man.