Wellington Management Group LLP Boosts Stake in Metals Acquisition Limited (NYSE:MTAL)

Wellington Management Group LLP boosted its holdings in shares of Metals Acquisition Limited (NYSE:MTAL - Free Report) by 799.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 909,588 shares of the company's stock after buying an additional 808,418 shares during the quarter. Wellington Management Group LLP owned approximately 1.23% of Metals Acquisition worth $12,598,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Amalgamated Bank bought a new position in shares of Metals Acquisition during the second quarter worth approximately $26,000. Quarry LP bought a new stake in shares of Metals Acquisition in the third quarter valued at approximately $34,000. Quantbot Technologies LP acquired a new stake in Metals Acquisition during the third quarter worth approximately $46,000. FMR LLC acquired a new position in Metals Acquisition in the third quarter valued at about $107,000. Finally, Creative Planning bought a new position in Metals Acquisition in the 3rd quarter valued at about $190,000. 87.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Scotiabank reduced their target price on Metals Acquisition from $17.00 to $16.00 and set a "sector outperform" rating on the stock in a report on Monday, August 19th.

Metals Acquisition Stock Down 4.2 %

NYSE MTAL traded down $0.53 during trading hours on Friday, hitting $12.20. 129,913 shares of the company's stock were exchanged, compared to its average volume of 245,338. Metals Acquisition Limited has a 1-year low of $9.77 and a 1-year high of $15.26. 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 simple moving average of $12.56 and a 200 day simple moving average of $12.70.

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.