Lifezone Metals (NYSE:LZM) Trading Down 2.5% – What’s Next?

Lifezone Metals Limited (NYSE:LZM)’s share price dropped 2.5% during trading on Friday . The stock traded as low as $4.39 and last traded at $4.4180. Approximately 192,159 shares changed hands during trading, a decline of 33% from the average daily volume of 285,181 shares. The stock had previously closed at $4.53.

Analyst Upgrades and Downgrades

LZM has been the topic of a number of analyst reports. BTIG Research lowered their price target on Lifezone Metals from $11.00 to $7.00 and set a “buy” rating on the stock in a research report 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 given a Sell rating to the stock. Based on data from MarketBeat, Lifezone Metals presently has an average rating of “Hold” and a consensus price target of $7.00.

Lifezone Metals Price Performance

The business has a 50 day simple moving average of $4.82 and a 200 day simple moving average of $4.71. The company has a market cap of $345.80 million, a price-to-earnings ratio of -0.95 and a beta of 0.63.

Institutional Investors Weigh In On Lifezone Metals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers raised its stake in shares of Lifezone Metals by 22.9% in the first quarter. Rhumbline Advisers now owns 44,971 shares of the company’s stock worth $188,000 after acquiring an additional 8,376 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Lifezone Metals in the second quarter valued at approximately $105,000. Russell Investments Group Ltd. raised its position in Lifezone Metals by 200.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 201,680 shares of the company’s stock worth $831,000 after purchasing an additional 134,655 shares during the last quarter. Invesco Ltd. lifted its holdings in Lifezone Metals by 8.8% during the 2nd quarter. Invesco Ltd. now owns 990,623 shares of the company’s stock worth $4,081,000 after buying an additional 80,093 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in Lifezone Metals in the 2nd quarter valued at $136,000.

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.