MAC Copper Limited (NYSE:MTAL) Stock Short Interest Report for October

MAC Copper Limited (NYSE:MTAL) was the target of a large increase in short interest in the month of October. As of October 30th, there was short interest totaling 974 shares, an increase of 5,311.1% from the October 15th total of 18 shares. Based on an average daily trading volume, of 4,841 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.0% of the company’s stock are short sold.

Wall Street Analyst Weigh In

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

MAC Copper Stock Down 0.4%

MTAL traded down $0.04 during midday trading on Tuesday, reaching $10.10. The company had a trading volume of 734 shares, compared to its average volume of 28,657. MAC Copper has a 12-month low of $9.95 and a 12-month high of $11.80. The business has a 50-day moving average price of $10.15 and a two-hundred day moving average price of $10.72.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in MAC Copper stock. First Trust Capital Management L.P. bought a new position in shares of MAC Copper Limited (NYSE:MTAL) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 351,270 shares of the company’s stock, valued at approximately $3,569,000. First Trust Capital Management L.P. owned approximately 1.15% of MAC Copper at the end of the most recent reporting period. 87.47% of the stock is owned by institutional investors.

MAC Copper Company Profile

MAC Copper Limited is a mineral exploration and development company focused on identifying and advancing copper projects. The company’s activities include exploration, geological evaluation and assessment of potential copper resources. MAC Copper has focused its efforts on copper opportunities in Colombia and other prospective areas of the Americas. Its portfolio is centered on early-stage exploration and project development rather than the production or sale of refined metals. The company is listed on the New York Stock Exchange under the symbol MTAL.