Metals Acquisition (NYSE:MTAL - Free Report) had its target price lowered by Scotiabank from $16.00 to $14.50 in a report issued on Monday morning,Benzinga reports. The brokerage currently has a sector outperform rating on the stock.
Metals Acquisition Stock Down 1.0 %
NYSE:MTAL traded down $0.11 during midday trading on Monday, hitting $10.50. The company had a trading volume of 199,747 shares, compared to its average volume of 165,544. The company has a quick ratio of 0.69, a current ratio of 0.84 and a debt-to-equity ratio of 0.85. Metals Acquisition has a 52-week low of $9.89 and a 52-week high of $15.26. The stock's fifty day moving average price is $12.00 and its 200-day moving average price is $12.32.
Hedge Funds Weigh In On Metals Acquisition
A number of large investors have recently modified their holdings of MTAL. Tidal Investments LLC purchased a new stake in Metals Acquisition in the third quarter worth approximately $186,000. Barclays PLC boosted its stake in shares of Metals Acquisition by 286.6% in the 3rd quarter. Barclays PLC now owns 72,260 shares of the company's stock valued at $1,000,000 after purchasing an additional 53,567 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of 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 purchasing an additional 808,418 shares during the last quarter. State Street Corp raised its position in Metals Acquisition by 28.7% in the 3rd quarter. State Street Corp now owns 698,943 shares of the company's stock worth $9,680,000 after purchasing an additional 156,022 shares during the period. Finally, Quarry LP bought a new stake in Metals Acquisition in the third quarter worth $34,000. 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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