Metals Acquisition (NYSE:MTAL) Sees Large Volume Increase

Shares of Metals Acquisition Limited (NYSE:MTAL) saw unusually-strong trading volume on Monday . Approximately 187,767 shares traded hands during trading, an increase of 299% from the previous session’s volume of 47,116 shares.The stock last traded at $12.96 and had previously closed at $12.84.

Analyst Ratings Changes

Separately, Scotiabank assumed coverage on shares of Metals Acquisition in a research note on Monday, March 4th. They issued a “sector outperform” rating and a $14.50 price target on the stock. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Metals Acquisition currently has an average rating of “Buy” and an average price target of $13.92.

Metals Acquisition Trading Down 0.5 %

The firm has a 50-day moving average of $12.73 and a 200-day moving average of $11.70. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.31 and a quick ratio of 0.23.

Institutional Investors Weigh In On Metals Acquisition

Institutional investors have recently modified their holdings of the business. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund lifted its stake in Metals Acquisition by 8.3% during the 4th quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 3,572,728 shares of the company’s stock valued at $44,159,000 after acquiring an additional 272,727 shares during the period. Sprott Inc. purchased a new position in shares of Metals Acquisition during the third quarter valued at approximately $17,970,000. Adage Capital Partners GP L.L.C. lifted its position in Metals Acquisition by 10.4% during the third quarter. Adage Capital Partners GP L.L.C. now owns 687,139 shares of the company’s stock valued at $8,232,000 after purchasing an additional 64,616 shares during the period. CI Investments Inc. purchased a new stake in Metals Acquisition in the third quarter worth approximately $6,676,000. Finally, Kepos Capital LP purchased a new stake in Metals Acquisition during the 3rd quarter valued at $210,000. 87.47% of the stock is owned by hedge funds and other institutional investors.

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.