Q4 EPS Forecast for Metals Acquisition Increased by Analyst

Metals Acquisition Limited (NYSE:MTAL) – National Bank Financial lifted their Q4 2024 earnings per share (EPS) estimates for shares of Metals Acquisition in a report released on Tuesday, October 22nd. National Bank Financial analyst S. Nagle now anticipates that the company will post earnings of $0.23 per share for the quarter, up from their prior forecast of $0.01. The consensus estimate for Metals Acquisition’s current full-year earnings is $0.28 per share. National Bank Financial also issued estimates for Metals Acquisition’s FY2025 earnings at $0.78 EPS, FY2026 earnings at $1.14 EPS and FY2027 earnings at $1.14 EPS.

MTAL has been the topic of a number of other reports. BMO Capital Markets upped their target price on shares of Metals Acquisition from $13.00 to $15.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 23rd. Scotiabank reduced their price objective on Metals Acquisition from $17.00 to $16.00 and set a “sector outperform” rating on the stock in a report on Monday, August 19th.

Metals Acquisition Stock Up 0.1 %

Shares of MTAL opened at $12.24 on Friday. The firm has a fifty day moving average price of $12.15 and a 200-day moving average price of $12.93. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.84 and a quick ratio of 0.69. Metals Acquisition has a 12-month low of $9.50 and a 12-month high of $15.26.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC increased its stake in Metals Acquisition by 54.3% during the 2nd quarter. Millennium Management LLC now owns 1,919,918 shares of the company’s stock valued at $26,284,000 after purchasing an additional 675,340 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Metals Acquisition in the second quarter valued at about $2,141,000. Rhumbline Advisers acquired a new stake in shares of Metals Acquisition during the second quarter worth about $938,000. The Manufacturers Life Insurance Company acquired a new position in Metals Acquisition in the 2nd quarter worth approximately $278,000. Finally, SG Americas Securities LLC purchased a new position in Metals Acquisition during the 3rd quarter worth approximately $246,000. 87.47% of the stock is currently owned by hedge funds and other institutional investors.

About Metals Acquisition

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.