Metals Acquisition (NYSE:MTAL) Shares Gap Up – What’s Next?

Metals Acquisition Limited (NYSE:MTAL) gapped up before the market opened on Tuesday . The stock had previously closed at $9.92, but opened at $10.13. Metals Acquisition shares last traded at $10.03, with a volume of 39,809 shares changing hands.

Analyst Upgrades and Downgrades

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

Metals Acquisition Stock Up 2.9 %

The company has a current ratio of 0.84, a quick ratio of 0.69 and a debt-to-equity ratio of 0.85. The stock’s fifty day moving average price is $10.72 and its 200-day moving average price is $11.69.

Institutional Investors Weigh In On Metals Acquisition

Institutional investors have recently modified their holdings of the company. Creative Planning purchased a new position in Metals Acquisition during the 3rd quarter worth approximately $190,000. CWA Asset Management Group LLC purchased a new stake in shares of Metals Acquisition in the 3rd quarter worth about $278,000. Regal Partners Ltd lifted its holdings in shares of Metals Acquisition by 1.7% in the third quarter. Regal Partners Ltd now owns 406,327 shares of the company’s stock valued at $5,628,000 after purchasing an additional 6,651 shares in the last quarter. Bank of Montreal Can acquired a new position in shares of Metals Acquisition in the third quarter worth $6,049,000. Finally, Quantbot Technologies LP purchased a new position in Metals Acquisition in the 3rd quarter valued at about $46,000. 87.47% of the stock is owned by institutional investors and hedge funds.

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.