Metals Acquisition (NYSE:MTAL) Shares Down 5.1% - Here's What Happened

Metals Acquisition Limited (NYSE:MTAL - Get Free Report) traded down 5.1% during trading on Friday . The stock traded as low as $12.07 and last traded at $12.08. Approximately 36,074 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 244,914 shares. The stock had previously closed at $12.73.

Analysts Set New Price Targets

Separately, Scotiabank lowered their target price on shares of Metals Acquisition from $17.00 to $16.00 and set a "sector outperform" rating on the stock in a research report on Monday, August 19th.

Metals Acquisition Stock Down 4.2 %

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 business's 50-day simple moving average is $12.56 and its 200-day simple moving average is $12.70.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Amalgamated Bank acquired a new position in Metals Acquisition in the 2nd quarter valued at about $26,000. Quarry LP purchased a new stake in shares of Metals Acquisition during the third quarter worth about $34,000. Quantbot Technologies LP acquired a new position in shares of Metals Acquisition in the third quarter valued at approximately $46,000. FMR LLC purchased a new position in shares of Metals Acquisition during the third quarter valued at approximately $107,000. Finally, Tidal Investments LLC acquired a new stake in Metals Acquisition during the third quarter worth approximately $186,000. 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.