Metals Acquisition Limited (NYSE:MTAL - Free Report) - Equities researchers at Scotiabank reduced their FY2024 earnings estimates for Metals Acquisition in a research report issued on Wednesday, January 8th. Scotiabank analyst E. Winmill now expects that the company will post earnings per share of $0.17 for the year, down from their prior estimate of $0.25. Scotiabank currently has a "Sector Outperform" rating and a $14.50 price objective on the stock. The consensus estimate for Metals Acquisition's current full-year earnings is $0.33 per share. Scotiabank also issued estimates for Metals Acquisition's FY2025 earnings at $1.19 EPS.
Metals Acquisition Price Performance
MTAL stock traded up $0.18 during trading on Thursday, hitting $10.44. 163,441 shares of the stock traded hands, compared to its average volume of 180,866. 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. The firm's 50 day moving average is $11.84 and its two-hundred day moving average is $12.26.
Institutional Investors Weigh In On Metals Acquisition
Several institutional investors have recently modified their holdings of MTAL. Barclays PLC raised its stake in Metals Acquisition by 286.6% during the 3rd quarter. Barclays PLC now owns 72,260 shares of the company's stock valued at $1,000,000 after buying an additional 53,567 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Metals Acquisition in the second quarter worth $2,141,000. 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. Creative Planning bought a new position in Metals Acquisition in the third quarter valued at about $190,000. Finally, Amalgamated Bank purchased a new position in Metals Acquisition in the second quarter worth about $26,000. 87.47% of the stock is owned by hedge funds and other institutional investors.
About Metals Acquisition
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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.
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