Short Interest in Metals Acquisition Limited (NYSE:MTAL) Increases By 26.3%

Metals Acquisition Limited (NYSE:MTAL - Get Free Report) was the recipient of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 2,110,000 shares, a growth of 26.3% from the March 15th total of 1,670,000 shares. Based on an average daily trading volume, of 343,400 shares, the short-interest ratio is presently 6.1 days. Approximately 3.9% of the company's stock are short sold.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on MTAL shares. BMO Capital Markets initiated coverage on shares of Metals Acquisition in a research note on Wednesday. They issued an "outperform" rating and a $11.00 price target for the company. Scotiabank decreased their price objective 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.

Institutional Investors Weigh In On Metals Acquisition

A number of institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC purchased a new stake in Metals Acquisition during the 3rd quarter valued at approximately $107,000. State Street Corp lifted its holdings in shares of Metals Acquisition by 28.7% during the third 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. Barclays PLC grew its position in 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 buying an additional 53,567 shares during the last quarter. Tidal Investments LLC acquired a new position in Metals Acquisition in the 3rd quarter valued at $186,000. Finally, SG Americas Securities LLC raised its position in Metals Acquisition by 12.6% during the 4th quarter. SG Americas Securities LLC now owns 19,959 shares of the company's stock worth $212,000 after buying an additional 2,232 shares during the last quarter. 87.47% of the stock is owned by hedge funds and other institutional investors.

Metals Acquisition Trading Down 0.3 %

Shares of NYSE MTAL opened at $8.76 on Friday. 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 stock has a 50 day moving average of $9.88 and a two-hundred day moving average of $11.11. Metals Acquisition has a twelve month low of $7.69 and a twelve month high of $15.26.

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.

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