Metals Acquisition Limited (NYSE:MTAL - Get Free Report)'s share price shot up 6.8% on Wednesday . The company traded as high as $11.08 and last traded at $11.10. 29,530 shares traded hands during trading, a decline of 85% from the average session volume of 198,527 shares. The stock had previously closed at $10.39.
Analyst Upgrades and Downgrades
Separately, Scotiabank lowered their target price on shares of Metals Acquisition from $16.00 to $14.50 and set a "sector outperform" rating on the stock in a research note on Monday, January 6th.
Check Out Our Latest Analysis on Metals Acquisition
Metals Acquisition Stock Performance
The company has a debt-to-equity ratio of 0.85, a current ratio of 0.84 and a quick ratio of 0.69. The business's 50-day moving average is $11.38 and its 200 day moving average is $11.95.
Institutional Investors Weigh In On Metals Acquisition
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Amalgamated Bank purchased a new position in Metals Acquisition in the 2nd quarter worth approximately $26,000. Marshall Wace LLP increased its position in Metals Acquisition by 57.4% during the 2nd quarter. Marshall Wace LLP now owns 24,126 shares of the company's stock valued at $330,000 after purchasing an additional 8,799 shares during the period. Squarepoint Ops LLC purchased a new position in shares of Metals Acquisition during the second quarter valued at about $205,000. Millennium Management LLC grew its holdings in shares of Metals Acquisition by 54.3% during the 2nd quarter. Millennium Management LLC now owns 1,919,918 shares of the company's stock worth $26,284,000 after acquiring an additional 675,340 shares during the period. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Metals Acquisition in the 2nd quarter worth approximately $278,000. Institutional investors own 87.47% of the company's stock.
About Metals Acquisition
(
Get Free Report)
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.
Further Reading
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