Metals Acquisition (NYSE:MTAL) Shares Down 4.9% – Here’s What Happened

Metals Acquisition Limited (NYSE:MTAL)’s stock price traded down 4.9% on Thursday . The stock traded as low as $10.64 and last traded at $10.57. 97,201 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 205,795 shares. The stock had previously closed at $11.11.

Analyst Upgrades and Downgrades

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

Metals Acquisition Stock Performance

The company has a 50-day moving average of $11.37 and a two-hundred day moving average of $11.94. 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

A number of large investors have recently bought and sold shares of MTAL. Amalgamated Bank purchased a new position in shares of Metals Acquisition during the second quarter valued at approximately $26,000. Marshall Wace LLP boosted its stake in Metals Acquisition by 57.4% in the 2nd quarter. Marshall Wace LLP now owns 24,126 shares of the company’s stock worth $330,000 after purchasing an additional 8,799 shares in the last quarter. Squarepoint Ops LLC purchased a new position in Metals Acquisition in the second quarter worth about $205,000. Millennium Management LLC lifted its position in Metals Acquisition by 54.3% in the 2nd quarter. Millennium Management LLC now owns 1,919,918 shares of the company’s stock valued at $26,284,000 after acquiring an additional 675,340 shares in the last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Metals Acquisition during the second quarter valued at $278,000. 87.47% of the stock is 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.