Metals Acquisition (NYSE:MTAL) Shares Down 5.1% – Here’s Why

Metals Acquisition Limited (NYSE:MTAL) traded down 5.1% on Friday . The company traded as low as $12.07 and last traded at $12.08. 36,074 shares changed hands during trading, a decline of 85% from the average session volume of 244,914 shares. The stock had previously closed at $12.73.

Analyst Upgrades and Downgrades

Separately, Scotiabank lowered their target price on Metals Acquisition from $17.00 to $16.00 and set a “sector outperform” rating on the stock in a research note on Monday, August 19th.

Metals Acquisition Stock Down 4.2 %

The firm’s fifty day moving average price is $12.56 and its two-hundred day moving average price is $12.70. 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 Investors Weigh In On Metals Acquisition

Several hedge funds have recently modified their holdings of MTAL. Amalgamated Bank acquired a new position in Metals Acquisition in the 2nd quarter worth about $26,000. Quarry LP purchased a new stake in shares of Metals Acquisition in the third quarter valued at approximately $34,000. Quantbot Technologies LP acquired a new position in shares of Metals Acquisition during the 3rd quarter worth approximately $46,000. FMR LLC purchased a new position in shares of Metals Acquisition during the 3rd quarter valued at approximately $107,000. Finally, Tidal Investments LLC acquired a new stake in Metals Acquisition in the 3rd quarter valued at $186,000. 87.47% of the stock is owned by hedge funds and other 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.