Bank of New York Mellon Corp Acquires Shares of 156,379 Metals Acquisition Limited (NYSE:MTAL)

Bank of New York Mellon Corp bought a new stake in Metals Acquisition Limited (NYSE:MTAL) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 156,379 shares of the company’s stock, valued at approximately $2,141,000. Bank of New York Mellon Corp owned 0.31% of Metals Acquisition at the end of the most recent reporting period.

Separately, Platinum Investment Management Ltd. raised its stake in shares of Metals Acquisition by 9.8% during the fourth quarter. Platinum Investment Management Ltd. now owns 2,236,246 shares of the company’s stock worth $27,640,000 after purchasing an additional 199,898 shares during the last quarter. Hedge funds and other institutional investors own 87.47% of the company’s stock.

Metals Acquisition Trading Up 0.8 %

Shares of MTAL opened at $11.45 on Wednesday. Metals Acquisition Limited has a 12-month low of $9.50 and a 12-month high of $15.26. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.69 and a current ratio of 0.84. The company has a 50-day moving average of $11.95 and a two-hundred day moving average of $12.89.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on MTAL shares. BMO Capital Markets raised their target price on Metals Acquisition from $13.00 to $15.00 and gave the company a “market perform” rating in a report on Tuesday, July 23rd. Scotiabank cut their price target on shares of Metals Acquisition from $17.00 to $16.00 and set a “sector outperform” rating for the company in a report on Monday, August 19th.

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.