MTAL Q3 EPS Forecast Lowered by National Bank Financial

Metals Acquisition Limited (NYSE:MTAL) – Investment analysts at National Bank Financial lowered their Q3 2024 earnings per share estimates for shares of Metals Acquisition in a research report issued on Monday, October 14th. National Bank Financial analyst S. Nagle now expects that the company will earn $0.05 per share for the quarter, down from their previous estimate of $0.06. The consensus estimate for Metals Acquisition’s current full-year earnings is $0.21 per share. National Bank Financial also issued estimates for Metals Acquisition’s FY2024 earnings at $0.32 EPS and FY2025 earnings at $0.80 EPS.

Several other research firms have also issued reports on MTAL. Scotiabank decreased their target price on Metals Acquisition from $17.00 to $16.00 and set a “sector outperform” rating on the stock in a research note on Monday, August 19th. BMO Capital Markets increased their target price on Metals Acquisition from $13.00 to $15.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 23rd.

Metals Acquisition Stock Performance

MTAL opened at $12.38 on Thursday. The stock’s 50-day moving average price is $12.08 and its 200 day moving average price is $12.96. Metals Acquisition 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 current ratio of 0.84 and a quick ratio of 0.69.

Institutional Investors Weigh In On Metals Acquisition

A number of hedge funds have recently bought and sold shares of the stock. Amalgamated Bank acquired a new stake in Metals Acquisition in the 2nd quarter valued at about $26,000. Marshall Wace LLP raised its position in Metals Acquisition by 57.4% in the 2nd quarter. Marshall Wace LLP now owns 24,126 shares of the company’s stock valued at $330,000 after purchasing an additional 8,799 shares in the last quarter. Creative Planning purchased a new position in shares of Metals Acquisition in the 3rd quarter valued at about $190,000. Squarepoint Ops LLC purchased a new position in shares of Metals Acquisition in the 2nd quarter valued at about $205,000. Finally, SG Americas Securities LLC purchased a new position in shares of Metals Acquisition in the 3rd quarter valued at about $246,000. Institutional investors and hedge funds 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.