Metals Acquisition Limited (NYSE:MTAL) Receives Consensus Rating of “Buy” from Brokerages

Shares of Metals Acquisition Limited (NYSE:MTAL) have been assigned an average recommendation of “Buy” from the five research firms that are covering the firm, MarketBeat reports. Five analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokerages that have covered the stock in the last year is $13.92.

Separately, Scotiabank assumed 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.

Institutional Trading of Metals Acquisition

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MTAL. Sprott Inc. acquired a new stake in Metals Acquisition during the third quarter worth approximately $17,970,000. CI Investments Inc. acquired a new stake in Metals Acquisition during the third quarter worth approximately $6,676,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund raised its holdings in Metals Acquisition by 8.3% during the fourth 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 worth $44,159,000 after purchasing an additional 272,727 shares in the last quarter. Platinum Investment Management Ltd. raised its holdings in Metals Acquisition by 9.8% during the fourth quarter. Platinum Investment Management Ltd. now owns 2,236,246 shares of the company’s stock worth $27,640,000 after purchasing an additional 199,898 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. raised 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 worth $8,232,000 after purchasing an additional 64,616 shares in the last quarter. Institutional investors and hedge funds own 87.47% of the company’s stock.

Metals Acquisition Stock Performance

Shares of NYSE:MTAL opened at $13.89 on Tuesday. The firm’s 50 day moving average price is $12.82 and its 200 day moving average price is $11.74. Metals Acquisition has a fifty-two week low of $8.49 and a fifty-two week high of $14.11. The company has a quick ratio of 0.23, a current ratio of 0.31 and a debt-to-equity ratio of 1.45.

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.