MAC Copper (NYSE:MTAL) Posts Earnings Results

MAC Copper (NYSE:MTAL) announced its earnings results on Friday. The company reported $0.04 earnings per share for the quarter, FiscalAI reports.

MAC Copper Trading Up 0.1%

MAC Copper stock traded up $0.01 during mid-day trading on Friday, hitting $10.11. The company had a trading volume of 113 shares, compared to its average volume of 13,643. The stock’s 50 day moving average price is $10.14 and its two-hundred day moving average price is $10.69. MAC Copper has a 12 month low of $9.95 and a 12 month high of $11.80.

Hedge Funds Weigh In On MAC Copper

An institutional investor recently bought a new position in MAC Copper stock. First Trust Capital Management L.P. acquired a new stake in shares of MAC Copper Limited (NYSE:MTAL) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 351,270 shares of the company’s stock, valued at approximately $3,569,000. First Trust Capital Management L.P. owned about 1.15% of MAC Copper as of its most recent filing with the SEC. Institutional investors and hedge funds own 87.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e)” rating on shares of MAC Copper in a research report on Thursday. One analyst has rated the stock with a Sell rating. According to MarketBeat.com, the company has an average rating of “Sell”.

About MAC Copper

MAC Copper Limited, formerly known as Metals Acquisition Limited, is an Australian mining company focused on copper production. Its principal operating asset is the CSA Copper Mine near Cobar in New South Wales. The underground mine produces copper concentrate for sale to customers in the global metals market. The mine has a long operating history and was acquired by the company from Glencore in 2023. MAC Copper is listed on the New York Stock Exchange under the symbol MTAL and is focused on operating and developing its copper mining business in Australia.