Metals Acquisition (NYSE:MTAL) Stock Price Down 4.9% - Should You Sell?

Shares of Metals Acquisition Limited (NYSE:MTAL - Get Free Report) traded down 4.9% during mid-day trading on Thursday . The stock traded as low as $10.64 and last traded at $10.57. 97,201 shares were traded during trading, a decline of 53% from the average session volume of 205,795 shares. The stock had previously closed at $11.11.

Wall Street Analysts Forecast Growth

Separately, Scotiabank cut 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 note on Monday, January 6th.

Metals Acquisition Trading Down 0.2 %

The company has a current ratio of 0.84, a quick ratio of 0.69 and a debt-to-equity ratio of 0.85. The stock's 50-day moving average is $11.28 and its 200 day moving average is $11.88.

Institutional Trading of Metals Acquisition

A number of institutional investors have recently added to or reduced their stakes in the business. Quarry LP bought a new stake in Metals Acquisition during the 3rd quarter valued at approximately $34,000. Quantbot Technologies LP acquired a new position in shares of Metals Acquisition during the third quarter worth approximately $46,000. FMR LLC bought a new stake in shares of Metals Acquisition in the third quarter valued at approximately $107,000. Tidal Investments LLC acquired a new stake in shares of Metals Acquisition in the third quarter worth $186,000. Finally, Creative Planning bought a new position in Metals Acquisition during the third quarter worth $190,000. 87.47% of the stock is currently owned by institutional investors and hedge funds.

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.