Metals Acquisition (NYSE:MTAL) Sets New 52-Week Low – Here’s Why

Metals Acquisition Limited (NYSE:MTAL)’s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $7.69 and last traded at $8.07, with a volume of 197425 shares changing hands. The stock had previously closed at $8.16.

Wall Street Analysts Forecast Growth

Separately, Scotiabank dropped their price objective on shares of 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 Up 9.6 %

The company has a quick ratio of 0.69, a current ratio of 0.84 and a debt-to-equity ratio of 0.85. The stock has a fifty day moving average price of $10.20 and a 200-day moving average price of $11.36.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Glencore plc acquired a new stake in shares of Metals Acquisition in the 4th quarter valued at $106,200,000. Wellington Management Group LLP boosted its position in Metals Acquisition by 799.1% in the third 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. American Century Companies Inc. grew its stake in Metals Acquisition by 58.5% during the fourth quarter. American Century Companies Inc. now owns 906,421 shares of the company’s stock worth $9,626,000 after buying an additional 334,505 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Metals Acquisition by 11.2% during the fourth quarter. Millennium Management LLC now owns 2,028,073 shares of the company’s stock worth $21,538,000 after buying an additional 204,439 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Metals Acquisition by 11.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,865,422 shares of the company’s stock valued at $19,811,000 after acquiring an additional 194,813 shares during the last quarter. 87.47% of the stock is currently owned by institutional investors and hedge funds.

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.