Metals Acquisition Limited (NYSE:MTAL – Get Free Report) rose 3.1% during mid-day trading on Thursday . The stock traded as high as $13.59 and last traded at $13.49. Approximately 106,949 shares traded hands during mid-day trading, a decline of 24% from the average daily volume of 140,714 shares. The stock had previously closed at $13.09.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on the stock. Scotiabank assumed coverage on shares of Metals Acquisition in a research note on Monday, March 4th. They set a “sector outperform” rating and a $14.50 price target for the company. BMO Capital Markets cut shares of Metals Acquisition from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $13.00 to $12.00 in a research note on Tuesday. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Metals Acquisition presently has an average rating of “Moderate Buy” and an average target price of $13.58.
View Our Latest Report on MTAL
Metals Acquisition Price Performance
Hedge Funds Weigh In On Metals Acquisition
Institutional investors and hedge funds have recently modified their holdings of the stock. Kepos Capital LP purchased a new position in shares of Metals Acquisition during the third quarter worth $210,000. Tuttle Capital Management LLC purchased a new stake in Metals Acquisition in the 1st quarter valued at approximately $517,000. Regal Partners Ltd boosted its holdings in Metals Acquisition by 1.2% in the 3rd quarter. Regal Partners Ltd now owns 303,705 shares of the company’s stock valued at $3,638,000 after purchasing an additional 3,705 shares in the last quarter. CI Investments Inc. purchased a new stake in shares of Metals Acquisition during the 3rd quarter worth approximately $6,676,000. Finally, Adage Capital Partners GP L.L.C. boosted its stake in shares of 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 worth $8,232,000 after acquiring an additional 64,616 shares in the last quarter. Institutional investors and hedge funds own 87.47% of the company’s stock.
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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