FY2024 EPS Estimate for Metals Acquisition Raised by Analyst

Metals Acquisition Limited (NYSE:MTAL) – Investment analysts at National Bank Financial boosted their FY2024 earnings estimates for shares of Metals Acquisition in a research report issued to clients and investors on Tuesday, October 22nd. National Bank Financial analyst S. Nagle now forecasts that the company will post earnings of $0.41 per share for the year, up from their previous forecast of $0.32. The consensus estimate for Metals Acquisition’s current full-year earnings is $0.21 per share. National Bank Financial also issued estimates for Metals Acquisition’s Q1 2025 earnings at $0.15 EPS.

A number of other equities analysts also recently weighed in on the stock. BMO Capital Markets boosted 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 lowered their price target on shares of Metals Acquisition from $17.00 to $16.00 and set a “sector outperform” rating for the company in a report on Monday, August 19th.

Metals Acquisition Price Performance

NYSE MTAL opened at $12.23 on Thursday. The stock’s 50 day simple moving average is $12.15 and its 200 day simple moving average is $12.93. Metals Acquisition has a one year low of $9.50 and a one year high of $15.26. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.69 and a current ratio of 0.84.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Millennium Management LLC raised its holdings in Metals Acquisition by 54.3% during the second quarter. Millennium Management LLC now owns 1,919,918 shares of the company’s stock worth $26,284,000 after acquiring an additional 675,340 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Metals Acquisition during the 2nd quarter worth approximately $2,141,000. Rhumbline Advisers acquired a new stake in shares of Metals Acquisition in the 2nd quarter valued at approximately $938,000. Marshall Wace LLP boosted its holdings in shares of Metals Acquisition by 57.4% in the 2nd quarter. Marshall Wace LLP now owns 24,126 shares of the company’s stock valued at $330,000 after buying an additional 8,799 shares during the last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Metals Acquisition in the second quarter valued at $278,000. 87.47% of the stock is owned by institutional investors and hedge funds.

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.