Metals Acquisition Limited (NYSE:MTAL) Short Interest Update

Metals Acquisition Limited (NYSE:MTAL) was the recipient of a large increase in short interest in March. As of March 31st, there was short interest totalling 2,110,000 shares, an increase of 26.3% from the March 15th total of 1,670,000 shares. Approximately 3.9% of the company’s stock are sold short. Based on an average daily volume of 343,400 shares, the short-interest ratio is currently 6.1 days.

Analyst Upgrades and Downgrades

MTAL has been the subject of several recent research reports. Scotiabank reduced their price objective on Metals Acquisition from $16.00 to $14.50 and set a “sector outperform” rating for the company in a research report on Monday, January 6th. BMO Capital Markets started coverage on shares of Metals Acquisition in a research note on Wednesday, April 16th. They set an “outperform” rating and a $11.00 price target for the company.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MTAL. Glencore plc bought a new position in shares of Metals Acquisition in the fourth quarter valued at $106,200,000. American Century Companies Inc. lifted its stake in Metals Acquisition by 58.5% in the fourth quarter. American Century Companies Inc. now owns 906,421 shares of the company’s stock valued at $9,626,000 after acquiring an additional 334,505 shares during the last quarter. Millennium Management LLC grew its position in shares of 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 acquiring an additional 204,439 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of 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 worth $19,811,000 after purchasing an additional 194,813 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of Metals Acquisition by 28.7% in the 3rd quarter. State Street Corp now owns 698,943 shares of the company’s stock valued at $9,680,000 after purchasing an additional 156,022 shares during the period. 87.47% of the stock is owned by institutional investors and hedge funds.

Metals Acquisition Trading Down 2.4 %

Shares of Metals Acquisition stock traded down $0.21 during trading hours on Monday, reaching $8.55. 135,418 shares of the company’s stock were exchanged, compared to its average volume of 331,216. The company has a current ratio of 0.84, a quick ratio of 0.69 and a debt-to-equity ratio of 0.85. The company has a 50 day moving average of $9.88 and a two-hundred day moving average of $11.09. Metals Acquisition has a fifty-two week low of $7.69 and a fifty-two week high of $15.26.

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.