Shares of Metals Acquisition Limited (NYSE:MTAL – Get Free Report) saw strong trading volume on Monday . 110,092 shares changed hands during trading, an increase of 34% from the previous session’s volume of 82,118 shares.The stock last traded at $13.66 and had previously closed at $13.89.
Wall Street Analysts Forecast Growth
Separately, Scotiabank began coverage on shares of Metals Acquisition in a research report on Monday, March 4th. They set a “sector outperform” rating and a $14.50 price objective for the company. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $13.92.
View Our Latest Stock Report on MTAL
Metals Acquisition Price Performance
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the stock. Sprott Inc. purchased a new position in Metals Acquisition during the 3rd quarter valued at about $17,970,000. CI Investments Inc. purchased a new position in Metals Acquisition during the 3rd quarter valued at about $6,676,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund increased its position in Metals Acquisition by 8.3% during the 4th quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 3,572,728 shares of the company’s stock valued at $44,159,000 after purchasing an additional 272,727 shares during the period. Platinum Investment Management Ltd. increased its position in Metals Acquisition by 9.8% during the 4th quarter. Platinum Investment Management Ltd. now owns 2,236,246 shares of the company’s stock valued at $27,640,000 after purchasing an additional 199,898 shares during the period. Finally, Adage Capital Partners GP L.L.C. increased its position in Metals Acquisition by 10.4% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 687,139 shares of the company’s stock valued at $8,232,000 after purchasing an additional 64,616 shares during the period. Hedge funds and other institutional investors own 87.47% of the company’s stock.
About Metals Acquisition
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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