Metals Acquisition Limited (NYSE:MTAL) Expected to Earn FY2024 Earnings of $0.95 Per Share

Metals Acquisition Limited (NYSE:MTAL) – Analysts at National Bank Financial decreased their FY2024 earnings estimates for Metals Acquisition in a research note issued on Tuesday, April 23rd. National Bank Financial analyst S. Nagle now anticipates that the company will post earnings per share of $0.95 for the year, down from their prior forecast 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 began coverage on shares of Metals Acquisition in a report on Monday, March 4th. They issued a “sector outperform” rating and a $14.50 target price on the stock. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $13.92.

Metals Acquisition Price Performance

NYSE:MTAL opened at $13.48 on Thursday. Metals Acquisition has a 52 week low of $8.49 and a 52 week high of $14.11. The firm’s 50-day simple moving average is $12.78 and its 200 day simple moving average is $11.72. The company has a quick ratio of 0.23, a current ratio of 0.31 and a debt-to-equity ratio of 1.45.

Hedge Funds Weigh In On Metals Acquisition

A number of hedge funds have recently bought and sold shares of the company. CI Investments Inc. purchased a new stake in Metals Acquisition during the third quarter valued at about $6,676,000. Adage Capital Partners GP L.L.C. lifted its holdings 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 last quarter. Kepos Capital LP purchased a new stake in Metals Acquisition during the third quarter valued at about $210,000. Regal Partners Ltd increased its position in shares of Metals Acquisition by 1.2% during 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. Finally, Sprott Inc. bought a new stake in shares of Metals Acquisition during the third quarter valued at about $17,970,000. 87.47% of the stock is owned by hedge funds and other institutional investors.

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.