Metals Acquisition (NYSE:MTAL) Stock Price Up 7.5% – Here’s What Happened

Metals Acquisition Limited (NYSE:MTAL)’s stock price traded up 7.5% during trading on Tuesday . The stock traded as high as $10.10 and last traded at $10.08. 37,386 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 279,494 shares. The stock had previously closed at $9.37.

Analyst Ratings Changes

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

Metals Acquisition Trading Up 6.9 %

The firm’s 50-day moving average price is $10.65 and its 200 day moving average price is $11.63. 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 Investors Weigh In On Metals Acquisition

A number of institutional investors have recently made changes to their positions in the company. Glencore plc bought a new position in Metals Acquisition in the fourth quarter worth about $106,200,000. SailingStone Capital Partners LLC increased its holdings in shares of Metals Acquisition by 3.9% in the 4th quarter. SailingStone Capital Partners LLC now owns 2,633,391 shares of the company’s stock worth $27,967,000 after acquiring an additional 98,925 shares during the period. Millennium Management LLC lifted its position in Metals Acquisition by 11.2% in the 4th quarter. Millennium Management LLC now owns 2,028,073 shares of the company’s stock valued at $21,538,000 after purchasing an additional 204,439 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Metals Acquisition by 11.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,865,422 shares of the company’s stock valued at $19,811,000 after purchasing an additional 194,813 shares during the period. Finally, Wellington Management Group LLP increased its position in Metals Acquisition by 799.1% in the 3rd quarter. Wellington Management Group LLP now owns 909,588 shares of the company’s stock valued at $12,598,000 after acquiring an additional 808,418 shares during the period. 87.47% of the stock is currently owned by 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.