Metals Acquisition (NYSE:MTAL) Research Coverage Started at BMO Capital Markets

BMO Capital Markets assumed coverage on shares of Metals Acquisition (NYSE:MTAL) in a research note issued to investors on Wednesday morning, Marketbeat.com reports. The firm issued an outperform rating and a $11.00 price objective on the stock.

Separately, Scotiabank reduced their target price on shares of 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 Stock Down 0.3 %

Shares of MTAL stock opened at $8.76 on Wednesday. The company has a quick ratio of 0.69, a current ratio of 0.84 and a debt-to-equity ratio of 0.85. Metals Acquisition has a fifty-two week low of $7.69 and a fifty-two week high of $15.26. The firm’s 50 day moving average price is $9.88 and its two-hundred day moving average price is $11.13.

Institutional Investors Weigh In On Metals Acquisition

Several hedge funds have recently modified their holdings of MTAL. FMR LLC purchased a new stake in shares of Metals Acquisition during the third quarter valued at approximately $107,000. State Street Corp increased its stake in Metals Acquisition by 28.7% during the 3rd quarter. State Street Corp now owns 698,943 shares of the company’s stock worth $9,680,000 after buying an additional 156,022 shares during the period. Barclays PLC lifted its holdings in Metals Acquisition by 286.6% in 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 in the last quarter. Tidal Investments LLC purchased a new position in Metals Acquisition in the 3rd quarter valued at about $186,000. Finally, SG Americas Securities LLC grew its stake in shares of Metals Acquisition by 12.6% during the fourth quarter. SG Americas Securities LLC now owns 19,959 shares of the company’s stock valued at $212,000 after acquiring an additional 2,232 shares in the last quarter. 87.47% of the stock is currently owned by hedge funds and other institutional investors.

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.