MAC Copper Limited (NYSE:MTAL) Stock Short Interest Declines 97.9%

MAC Copper Limited (NYSE:MTAL) saw a large decline in short interest during the month of September. As of September 15th, there was short interest totaling 25 shares, a decline of 97.9% from the August 31st total of 1,171 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average daily volume of 16,289 shares, the short-interest ratio is presently 0.0 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut MAC Copper from a “sell (d-)” rating to a “sell (e)” rating in a research report on Friday, August 14th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

MAC Copper Price Performance

Shares of MTAL stock traded up $0.01 during trading hours on Friday, hitting $10.16. 41,836 shares of the company’s stock traded hands, compared to its average volume of 51,541. The stock’s 50 day simple moving average is $10.18 and its 200 day simple moving average is $10.54. MAC Copper has a 12 month low of $9.95 and a 12 month high of $11.80.

About MAC Copper

MAC Copper Limited (NYSE: MTAL) is a copper mining company focused on the ownership and operation of the CSA Copper Mine in the Cobar region of New South Wales, Australia. The company was formerly known as Metals Acquisition Limited and acquired the CSA operation from Glencore in 2023.

The CSA Copper Mine is an underground mining operation that produces copper concentrate for sale to international customers. Its activities include underground mining, ore processing and the production of copper concentrate, with operations supported by established mining and processing infrastructure.

MAC Copper’s business is concentrated in Australia, while its copper products serve global markets.