Metals Acquisition Limited (NYSE:MTAL – Get Free Report) shares saw unusually-strong trading volume on Wednesday . Approximately 184,611 shares traded hands during trading, a decline of 22% from the previous session’s volume of 238,092 shares.The stock last traded at $12.36 and had previously closed at $13.25.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on MTAL shares. BMO Capital Markets increased their price target on Metals Acquisition from $13.00 to $15.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 23rd. Scotiabank dropped their price target on Metals Acquisition from $17.00 to $16.00 and set a “sector outperform” rating on the stock in a research report on Monday, August 19th.
Read Our Latest Analysis on Metals Acquisition
Metals Acquisition Stock Performance
Hedge Funds Weigh In On Metals Acquisition
A number of institutional investors and hedge funds have recently added to or reduced their stakes in MTAL. Bank of New York Mellon Corp bought a new stake in shares of Metals Acquisition during the 2nd quarter worth $2,141,000. Millennium Management LLC boosted its position in shares of Metals Acquisition by 54.3% in the second quarter. Millennium Management LLC now owns 1,919,918 shares of the company’s stock worth $26,284,000 after buying an additional 675,340 shares during the period. Amalgamated Bank purchased a new stake in shares of Metals Acquisition during the second quarter worth $26,000. Tuttle Capital Management LLC purchased a new stake in shares of Metals Acquisition during the first quarter worth $517,000. Finally, Rhumbline Advisers purchased a new stake in shares of Metals Acquisition during the second quarter worth $938,000. 87.47% of the stock is owned by institutional investors.
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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