Metals Acquisition Limited (NYSE:MTAL – Get Free Report) shares were up 4.8% during mid-day trading on Thursday . The stock traded as high as $12.99 and last traded at $12.94. Approximately 14,659 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 163,557 shares. The stock had previously closed at $12.35.
Wall Street Analyst Weigh In
Several equities analysts have issued reports on MTAL shares. BMO Capital Markets downgraded Metals Acquisition from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $13.00 to $12.00 in a research report on Tuesday, May 21st. Scotiabank boosted their target price on Metals Acquisition from $15.50 to $17.00 and gave the stock a “sector outperform” rating in a research report on Thursday, May 30th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $14.00.
View Our Latest Stock Report on MTAL
Metals Acquisition Stock Up 8.7 %
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in MTAL. Kepos Capital LP acquired a new position in Metals Acquisition in the third quarter valued at about $210,000. Tuttle Capital Management LLC acquired a new position in Metals Acquisition in the first quarter valued at about $517,000. Regal Partners Ltd lifted its holdings in shares of Metals Acquisition by 1.2% in the third 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. Adage Capital Partners GP L.L.C. lifted its holdings in shares of Metals Acquisition by 10.4% in the third 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 in the last quarter. Finally, Sprott Inc. bought a new stake in shares of Metals Acquisition in the third quarter valued at about $17,970,000. 87.47% of the stock is owned by institutional investors and hedge funds.
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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