Metals Acquisition (NYSE:MTAL) Trading Down 3.1% - Should You Sell?

Metals Acquisition Limited (NYSE:MTAL - Get Free Report) dropped 3.1% during mid-day trading on Monday . The stock traded as low as $10.35 and last traded at $10.36. Approximately 202,928 shares traded hands during mid-day trading, a decline of 32% from the average daily volume of 297,743 shares. The stock had previously closed at $10.69.

Wall Street Analysts Forecast Growth

Separately, Scotiabank reduced their price target 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 Performance

The company has a quick ratio of 0.69, a current ratio of 0.84 and a debt-to-equity ratio of 0.85. The firm has a fifty day simple moving average of $10.66 and a two-hundred day simple moving average of $11.56.

Institutional Investors Weigh In On Metals Acquisition

A number of institutional investors and hedge funds have recently bought and sold shares of MTAL. Quadrant Capital Group LLC bought a new position in shares of Metals Acquisition in the 4th quarter worth $26,000. Quarry LP purchased a new position in Metals Acquisition in the third quarter worth $34,000. Signaturefd LLC bought a new position in Metals Acquisition in the fourth quarter valued at $36,000. Quantbot Technologies LP purchased a new stake in Metals Acquisition during the third quarter valued at about $46,000. Finally, FMR LLC bought a new stake in Metals Acquisition during the third quarter worth about $107,000. 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.