Metals Acquisition (NYSE:MTAL) Shares Gap Down – Should You Sell?

Metals Acquisition Limited (NYSE:MTAL) shares gapped down prior to trading on Thursday . The stock had previously closed at $13.19, but opened at $12.80. Metals Acquisition shares last traded at $13.24, with a volume of 8,284 shares changing hands.

Wall Street Analyst Weigh In

Separately, Scotiabank cut their price target 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 Price Performance

The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.69 and a current ratio of 0.84. The firm’s 50 day moving average price is $12.56 and its two-hundred day moving average price is $12.72.

Institutional Investors Weigh In On Metals Acquisition

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Amalgamated Bank bought a new position in Metals Acquisition in the second quarter valued at approximately $26,000. Quarry LP acquired a new stake in shares of Metals Acquisition in the 3rd quarter valued at approximately $34,000. Quantbot Technologies LP acquired a new position in Metals Acquisition during the third quarter worth $46,000. FMR LLC acquired a new position in shares of Metals Acquisition during the 3rd quarter worth about $107,000. Finally, Tidal Investments LLC bought a new stake in shares of Metals Acquisition in the third quarter valued at approximately $186,000. 87.47% of the stock is owned by 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.