Q3 EPS Estimates for MTAL Lowered by National Bank Financial

Metals Acquisition Limited (NYSE:MTAL - Free Report) - Equities research analysts at National Bank Financial lowered their Q3 2024 earnings per share (EPS) estimates for shares of Metals Acquisition in a research note issued to investors on Monday, October 14th. National Bank Financial analyst S. Nagle now anticipates that the company will post earnings of $0.05 per share for the quarter, down from their previous forecast of $0.06. The consensus estimate for Metals Acquisition's current full-year earnings is $0.21 per share. National Bank Financial also issued estimates for Metals Acquisition's FY2024 earnings at $0.32 EPS and FY2025 earnings at $0.80 EPS.

Other analysts also recently issued research reports about the company. Scotiabank dropped their price objective on Metals Acquisition from $17.00 to $16.00 and set a "sector outperform" rating on the stock in a research note on Monday, August 19th. BMO Capital Markets boosted their price objective on Metals Acquisition from $13.00 to $15.00 and gave the stock a "market perform" rating in a research note on Tuesday, July 23rd.

Metals Acquisition Trading Up 0.9 %

Shares of MTAL traded up $0.11 during midday trading on Thursday, reaching $12.38. The stock had a trading volume of 164,083 shares, compared to its average volume of 242,059. Metals Acquisition has a 52 week low of $9.50 and a 52 week high of $15.26. 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's 50 day moving average price is $12.08 and its 200-day moving average price is $12.96.

Institutional Investors Weigh In On Metals Acquisition

A number of institutional investors and hedge funds have recently modified their holdings of MTAL. Millennium Management LLC raised its position in shares of Metals Acquisition by 54.3% during the second quarter. Millennium Management LLC now owns 1,919,918 shares of the company's stock worth $26,284,000 after purchasing an additional 675,340 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of Metals Acquisition during the second quarter valued at $2,141,000. Rhumbline Advisers purchased a new position in shares of Metals Acquisition during the second quarter valued at $938,000. Tuttle Capital Management LLC purchased a new position in shares of Metals Acquisition during the first quarter valued at $517,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Metals Acquisition during the second quarter valued at $278,000. 87.47% of the stock is owned by institutional investors and hedge funds.

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.