Metals Acquisition (NYSE:MTAL) Hits New 52-Week Low - Time to Sell?

Metals Acquisition Limited (NYSE:MTAL - Get Free Report) shares hit a new 52-week low during trading on Friday . The stock traded as low as $9.15 and last traded at $10.50, with a volume of 409 shares. The stock had previously closed at $10.75.

Wall Street Analyst Weigh In

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 note on Monday, January 6th.

Metals Acquisition Trading Up 1.4 %

The stock has a 50 day moving average of $10.66 and a two-hundred day moving average of $11.58. The company has a quick ratio of 0.69, a current ratio of 0.84 and a debt-to-equity ratio of 0.85.

Hedge Funds Weigh In On Metals Acquisition

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quarry LP bought a new stake in shares of Metals Acquisition during the 3rd quarter worth $34,000. Quadrant Capital Group LLC acquired a new position in Metals Acquisition during the 4th quarter worth $26,000. Quantbot Technologies LP bought a new stake in Metals Acquisition during the third quarter valued at about $46,000. Signaturefd LLC acquired a new stake in shares of Metals Acquisition in the fourth quarter valued at about $36,000. Finally, FMR LLC bought a new position in shares of Metals Acquisition in the third quarter worth about $107,000. 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.