Metals Acquisition Limited (NYSE:MTAL – Get Free Report) shares were up 0.8% during trading on Friday . The stock traded as high as $11.90 and last traded at $11.85. Approximately 222,278 shares traded hands during trading, a decline of 2% from the average daily volume of 226,759 shares. The stock had previously closed at $11.76.
Wall Street Analyst Weigh In
MTAL has been the subject of several research reports. Scotiabank lifted their price objective on shares of Metals Acquisition from $15.50 to $17.00 and gave the stock a “sector outperform” rating in a research note on Thursday, May 30th. BMO Capital Markets lifted their price target on Metals Acquisition from $13.00 to $15.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 23rd.
Read Our Latest Report on MTAL
Metals Acquisition Trading Up 0.8 %
The company has a debt-to-equity ratio of 1.45, a current ratio of 0.31 and a quick ratio of 0.23. The company has a 50-day moving average price of $13.05 and a 200-day moving average price of $13.06.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the stock. Millennium Management LLC grew its holdings in Metals Acquisition by 54.3% in the 2nd quarter. Millennium Management LLC now owns 1,919,918 shares of the company’s stock worth $26,284,000 after buying an additional 675,340 shares in the last quarter. Platinum Investment Management Ltd. lifted its holdings in shares of Metals Acquisition by 9.8% in the fourth quarter. Platinum Investment Management Ltd. now owns 2,236,246 shares of the company’s stock valued at $27,640,000 after buying an additional 199,898 shares during the period. Bank of New York Mellon Corp bought a new position in Metals Acquisition during the second quarter valued at about $2,141,000. Rhumbline Advisers acquired a new position in Metals Acquisition during the second quarter worth about $938,000. Finally, Tuttle Capital Management LLC acquired a new stake in Metals Acquisition in the 1st quarter valued at about $517,000. 87.47% of the stock is currently owned by institutional investors.
Metals Acquisition Company Profile
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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