Metals Acquisition (NYSE:MTAL) Reaches New 52-Week Low - What's Next?

Metals Acquisition Limited (NYSE:MTAL - Get Free Report) shares hit a new 52-week low on Monday . The company traded as low as $9.88 and last traded at $9.87, with a volume of 128879 shares trading hands. The stock had previously closed at $10.07.

Analysts Set New Price Targets

Separately, Scotiabank dropped their target price 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 Trading Down 6.1 %

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 stock has a 50-day simple moving average of $10.69 and a two-hundred day simple moving average of $11.66.

Hedge Funds Weigh In On Metals Acquisition

A number of large investors have recently modified their holdings of MTAL. Creative Planning purchased a new position in shares of Metals Acquisition during the third quarter worth approximately $190,000. CWA Asset Management Group LLC bought a new position in shares of Metals Acquisition during the 3rd quarter valued at $278,000. Regal Partners Ltd raised its position in Metals Acquisition by 1.7% in the 3rd quarter. Regal Partners Ltd now owns 406,327 shares of the company's stock worth $5,628,000 after purchasing an additional 6,651 shares during the period. Bank of Montreal Can bought a new stake in Metals Acquisition in the third quarter worth $6,049,000. Finally, Quantbot Technologies LP purchased a new stake in Metals Acquisition during the third quarter valued at about $46,000. 87.47% of the stock is owned by hedge funds and other institutional investors.

Metals Acquisition Company Profile

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.