Metals Acquisition Limited (NYSE:MTAL) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Metals Acquisition Limited (NYSE:MTAL) have been given a consensus recommendation of “Moderate Buy” by the five brokerages that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $14.00.

A number of equities research analysts have issued reports on MTAL shares. BMO Capital Markets downgraded Metals Acquisition from an “outperform” rating to a “market perform” rating and cut their price target for the company from $13.00 to $12.00 in a research note on Tuesday, May 21st. Scotiabank increased their price target on shares of Metals Acquisition from $15.50 to $17.00 and gave the stock a “sector outperform” rating in a research report on Thursday, May 30th.

Metals Acquisition Stock Performance

Shares of MTAL opened at $14.52 on Friday. The company has a quick ratio of 0.23, a current ratio of 0.31 and a debt-to-equity ratio of 1.45. Metals Acquisition has a one year low of $9.50 and a one year high of $15.26. The business has a fifty day moving average of $13.79 and a 200 day moving average of $12.91.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund grew its position in shares of Metals Acquisition by 8.3% during the fourth quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 3,572,728 shares of the company’s stock worth $44,159,000 after purchasing an additional 272,727 shares in the last quarter. Platinum Investment Management Ltd. raised its position in shares of Metals Acquisition by 9.8% during the fourth quarter. Platinum Investment Management Ltd. now owns 2,236,246 shares of the company’s stock valued at $27,640,000 after buying an additional 199,898 shares during the last quarter. Sprott Inc. bought a new stake in shares of Metals Acquisition during the third quarter valued at approximately $17,970,000. Adage Capital Partners GP L.L.C. lifted its holdings in shares of Metals Acquisition by 10.4% in the third quarter. Adage Capital Partners GP L.L.C. now owns 687,139 shares of the company’s stock worth $8,232,000 after buying an additional 64,616 shares in the last quarter. Finally, Tuttle Capital Management LLC bought a new position in shares of Metals Acquisition during the first quarter worth $517,000. Hedge funds and other institutional investors own 87.47% of the company’s stock.

Metals Acquisition Company Profile

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.