Metals Acquisition (NYSE:MTAL) Sets New 1-Year Low – Time to Sell?

Metals Acquisition Limited (NYSE:MTAL)’s stock price reached a new 52-week low during trading on Monday . The stock traded as low as $9.88 and last traded at $9.87, with a volume of 128879 shares trading hands. The stock had previously closed at $10.07.

Wall Street Analyst Weigh In

Separately, Scotiabank dropped their price objective on Metals Acquisition from $16.00 to $14.50 and set a “sector outperform” rating on the stock in a report on Monday, January 6th.

Metals Acquisition Trading Down 1.3 %

The stock’s 50-day moving average is $10.74 and its 200 day moving average is $11.71. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.84 and a quick ratio of 0.69.

Institutional Trading of Metals Acquisition

A number of hedge funds and other institutional investors have recently made changes to their positions in MTAL. Barclays PLC grew its stake in Metals Acquisition by 286.6% during the 3rd quarter. Barclays PLC now owns 72,260 shares of the company’s stock worth $1,000,000 after buying an additional 53,567 shares during the last quarter. State Street Corp boosted its holdings in shares of Metals Acquisition by 28.7% in the third quarter. State Street Corp now owns 698,943 shares of the company’s stock valued at $9,680,000 after acquiring an additional 156,022 shares during the period. Creative Planning purchased a new position in shares of Metals Acquisition during the third quarter worth approximately $190,000. FMR LLC acquired a new position in shares of Metals Acquisition in the 3rd quarter valued at $107,000. Finally, Wellington Management Group LLP raised its position in Metals Acquisition by 799.1% in the 3rd quarter. Wellington Management Group LLP now owns 909,588 shares of the company’s stock valued at $12,598,000 after purchasing an additional 808,418 shares during the last quarter. Institutional investors and hedge funds 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.