FY2024 EPS Estimates for MTAL Cut by National Bank Financial

Metals Acquisition Limited (NYSE:MTAL - Free Report) - Equities research analysts at National Bank Financial reduced their FY2024 earnings per share (EPS) estimates for shares of Metals Acquisition in a report issued on Tuesday, February 4th. National Bank Financial analyst S. Nagle now forecasts that the company will post earnings per share of $0.15 for the year, down from their prior forecast of $0.41. The consensus estimate for Metals Acquisition's current full-year earnings is $0.16 per share. National Bank Financial also issued estimates for Metals Acquisition's Q4 2024 earnings at $0.00 EPS.

Separately, Scotiabank lowered 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 Trading Up 3.4 %

Metals Acquisition stock traded up $0.38 on Friday, hitting $11.32. 185,413 shares of the stock traded hands, compared to its average volume of 223,818. The business's fifty day simple moving average is $11.09 and its 200 day simple moving average is $11.80. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.69 and a current ratio of 0.84. Metals Acquisition has a 1 year low of $9.89 and a 1 year high of $15.26.

Institutional Investors Weigh In On Metals Acquisition

Institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP raised its stake in Metals Acquisition by 799.1% during the 3rd quarter. Wellington Management Group LLP now owns 909,588 shares of the company's stock valued at $12,598,000 after buying an additional 808,418 shares during the last quarter. Bank of Montreal Can bought a new stake in shares of Metals Acquisition in the third quarter worth $6,049,000. State Street Corp increased its position in Metals Acquisition by 28.7% during the third quarter. State Street Corp now owns 698,943 shares of the company's stock valued at $9,680,000 after acquiring an additional 156,022 shares during the last quarter. Barclays PLC lifted its holdings in Metals Acquisition by 286.6% in the third quarter. Barclays PLC now owns 72,260 shares of the company's stock valued at $1,000,000 after acquiring an additional 53,567 shares during the period. Finally, Townsquare Capital LLC purchased a new position in Metals Acquisition in the third quarter worth about $284,000. Hedge funds and other institutional investors own 87.47% of the company's stock.

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.