Lifezone Metals (NYSE:LZM) Shares Up 1.2% – Time to Buy?

Shares of Lifezone Metals Limited (NYSE:LZM) were up 1.2% on Thursday . The stock traded as high as $5.85 and last traded at $5.79. Approximately 356,014 shares traded hands during trading, an increase of 24% from the average daily volume of 286,191 shares. The stock had previously closed at $5.72.

Wall Street Analysts Forecast Growth

LZM has been the topic of several research analyst reports. BTIG Research decreased 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 note on Wednesday, November 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lifezone Metals in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $7.00.

Lifezone Metals Stock Up 1.2%

The stock’s 50-day moving average price is $4.37 and its 200 day moving average price is $4.64. The firm has a market capitalization of $447.70 million, a price-to-earnings ratio of -1.24 and a beta of 0.62.

Institutional Investors Weigh In On Lifezone Metals

Large investors have recently made changes to their positions in the stock. Ballentine Partners LLC purchased a new position in Lifezone Metals during the 3rd quarter valued at about $66,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Lifezone Metals in the third quarter valued at approximately $71,000. Virtu Financial LLC purchased a new position in shares of Lifezone Metals in the third quarter valued at approximately $83,000. EdgePoint Investment Group Inc. acquired a new position in shares of Lifezone Metals in the second quarter valued at approximately $71,000. Finally, JPMorgan Chase & Co. increased its stake in Lifezone Metals by 50.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 19,826 shares of the company’s stock worth $109,000 after buying an additional 6,619 shares during the period.

About Lifezone Metals

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.