Metals Acquisition (NYSE:MTAL) Coverage Initiated at BMO Capital Markets

Investment analysts at BMO Capital Markets assumed coverage on shares of Metals Acquisition (NYSE:MTAL - Get Free Report) in a research note issued to investors on Wednesday, MarketBeat.com reports. The brokerage set an "outperform" rating and a $11.00 price target on the stock. BMO Capital Markets' target price points to a potential upside of 28.35% from the stock's current price.

Separately, Scotiabank reduced their price objective on shares of Metals Acquisition from $16.00 to $14.50 and set a "sector outperform" rating for the company in a research report on Monday, January 6th.

Metals Acquisition Stock Down 2.2 %

MTAL stock traded down $0.19 during trading on Wednesday, hitting $8.57. The company had a trading volume of 85,858 shares, compared to its average volume of 331,005. The business has a 50-day moving average of $9.88 and a 200-day moving average of $11.09. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.69 and a current ratio of 0.84. Metals Acquisition has a one year low of $7.69 and a one year high of $15.26.

Institutional Investors Weigh In On Metals Acquisition

Institutional investors and hedge funds have recently bought and sold shares of the stock. Invesco Ltd. grew its position in Metals Acquisition by 6.5% in the 4th quarter. Invesco Ltd. now owns 25,755 shares of the company's stock worth $274,000 after purchasing an additional 1,576 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Metals Acquisition by 12.6% in the 4th quarter. SG Americas Securities LLC now owns 19,959 shares of the company's stock worth $212,000 after buying an additional 2,232 shares during the period. Quadrant Capital Group LLC bought a new stake in shares of Metals Acquisition during the 4th quarter valued at $26,000. Signaturefd LLC bought a new stake in shares of Metals Acquisition during the fourth quarter valued at about $36,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in Metals Acquisition by 22.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 21,679 shares of the company's stock worth $231,000 after purchasing an additional 4,026 shares in the last quarter. 87.47% of the stock is owned by hedge funds and other 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.