Metals Acquisition (NYSE:MTAL) Trading 6% Higher – Still a Buy?

Metals Acquisition Limited (NYSE:MTAL) shares rose 6% during mid-day trading on Friday . The stock traded as high as $11.29 and last traded at $11.40. Approximately 35,337 shares changed hands during trading, a decline of 79% from the average daily volume of 169,859 shares. The stock had previously closed at $10.75.

Analyst Upgrades and Downgrades

Separately, Scotiabank dropped their price target on Metals Acquisition from $16.00 to $14.50 and set a “sector outperform” rating for the company in a research note on Monday, January 6th.

Metals Acquisition Stock Performance

The firm’s 50-day moving average is $11.65 and its 200-day moving average is $12.19. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.69 and a current ratio of 0.84.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of MTAL. Tidal Investments LLC bought a new position in shares of Metals Acquisition during the third quarter valued at approximately $186,000. Barclays PLC grew its stake in shares of Metals Acquisition by 286.6% in the 3rd quarter. Barclays PLC now owns 72,260 shares of the company’s stock worth $1,000,000 after buying an additional 53,567 shares during the last quarter. Wellington Management Group LLP increased its position in Metals Acquisition by 799.1% during the 3rd quarter. Wellington Management Group LLP now owns 909,588 shares of the company’s stock valued at $12,598,000 after buying an additional 808,418 shares in the last quarter. State Street Corp raised its stake in Metals Acquisition by 28.7% during the third quarter. State Street Corp now owns 698,943 shares of the company’s stock valued at $9,680,000 after buying an additional 156,022 shares during the last quarter. Finally, Quarry LP bought a new stake in Metals Acquisition in the third quarter worth $34,000. 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.