Research Analysts Offer Predictions for Metals Acquisition Limited’s FY2024 Earnings (NYSE:MTAL)

Metals Acquisition Limited (NYSE:MTAL) – Investment analysts at National Bank Financial decreased their FY2024 earnings per share estimates for Metals Acquisition in a report issued on Tuesday, April 23rd. National Bank Financial analyst S. Nagle now forecasts that the company will earn $0.95 per share for the year, down from their previous estimate of $1.11. The consensus estimate for Metals Acquisition’s current full-year earnings is ($0.27) per share. National Bank Financial also issued estimates for Metals Acquisition’s FY2025 earnings at $0.91 EPS.

Separately, Scotiabank started coverage on Metals Acquisition in a report on Monday, March 4th. They set a “sector outperform” rating and a $14.50 target price on the stock. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $13.92.

Metals Acquisition Trading Up 3.0 %

Shares of MTAL stock opened at $13.89 on Thursday. The stock’s fifty day moving average is $12.82 and its 200-day moving average is $11.74. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.23 and a current ratio of 0.31. Metals Acquisition has a 52 week low of $8.49 and a 52 week high of $14.11.

Hedge Funds Weigh In On Metals Acquisition

Large investors have recently made changes to their positions in the company. Kepos Capital LP acquired a new position in shares of Metals Acquisition during the third quarter valued at $210,000. Tuttle Capital Management LLC acquired a new position in Metals Acquisition in the first quarter valued at about $517,000. Regal Partners Ltd lifted its stake in Metals Acquisition by 1.2% in the third quarter. Regal Partners Ltd now owns 303,705 shares of the company’s stock valued at $3,638,000 after buying an additional 3,705 shares during the period. CI Investments Inc. acquired a new position in Metals Acquisition in the third quarter valued at about $6,676,000. Finally, Adage Capital Partners GP L.L.C. lifted its stake in Metals Acquisition by 10.4% in 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 buying an additional 64,616 shares during the period. Institutional investors and hedge funds own 87.47% of the company’s stock.

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.