Metalla Royalty & Streaming Ltd. $MTA Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC increased its stake in Metalla Royalty & Streaming Ltd. (NYSEAMERICAN:MTA) by 210.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 451,948 shares of the company’s stock after buying an additional 306,248 shares during the quarter. Renaissance Technologies LLC’s holdings in Metalla Royalty & Streaming were worth $2,996,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of MTA. Banque Cantonale Vaudoise acquired a new position in Metalla Royalty & Streaming during the 4th quarter worth approximately $31,000. Global Retirement Partners LLC purchased a new position in Metalla Royalty & Streaming in the 4th quarter worth approximately $34,000. Kestra Advisory Services LLC acquired a new stake in Metalla Royalty & Streaming in the fourth quarter valued at approximately $39,000. Wexford Capital LP acquired a new stake in Metalla Royalty & Streaming in the third quarter valued at approximately $41,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Metalla Royalty & Streaming by 42.1% during the second quarter. JPMorgan Chase & Co. now owns 14,071 shares of the company’s stock valued at $54,000 after purchasing an additional 4,171 shares during the period. 17.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Scotiabank reduced their target price on shares of Metalla Royalty & Streaming from $9.00 to $8.50 and set a “sector perform” rating on the stock in a research report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Metalla Royalty & Streaming has an average rating of “Moderate Buy” and an average price target of $8.50.

Metalla Royalty & Streaming Stock Up 4.2%

Shares of NYSEAMERICAN MTA opened at $8.75 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.45 and a current ratio of 3.45. Metalla Royalty & Streaming Ltd. has a 1 year low of $4.09 and a 1 year high of $9.25. The stock’s 50-day simple moving average is $7.43 and its 200-day simple moving average is $7.45. The firm has a market cap of $818.12 million, a price-to-earnings ratio of -218.75 and a beta of 1.35.

Metalla Royalty & Streaming Profile

Metalla Royalty & Streaming Ltd. is a Canada‐based precious metals royalty and streaming company focused on acquiring and managing royalties and streams on mineral properties. Headquartered in Vancouver, British Columbia, the firm provides financing to mining operators by purchasing royalty and stream interests that grant it a share of future metal production or revenues. These non‐dilutive arrangements enable Metalla to participate in the upside of mining projects without the operational risks associated with direct mine ownership.

The company’s portfolio spans a broad range of precious and battery metals, including gold, silver, copper, nickel and cobalt.