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

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

Wall Street Analyst Weigh In

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

Metals Acquisition Stock Performance

The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.69 and a current ratio of 0.84. The company has a 50 day moving average of $12.59 and a 200 day moving average of $12.73.

Institutional Trading of Metals Acquisition

Institutional investors and hedge funds have recently bought and sold shares of the business. Amalgamated Bank bought a new stake in shares of Metals Acquisition during the second quarter worth $26,000. Quarry LP bought a new stake in shares of Metals Acquisition during the third quarter worth about $34,000. Quantbot Technologies LP bought a new stake in shares of Metals Acquisition in the 3rd quarter worth $46,000. Regal Partners Ltd increased its stake in Metals Acquisition by 1.7% in the 3rd quarter. Regal Partners Ltd now owns 406,327 shares of the company’s stock valued at $5,628,000 after buying an additional 6,651 shares during the last quarter. Finally, FMR LLC purchased a new position in shares of Metals Acquisition in the 3rd quarter worth about $107,000. Institutional investors own 87.47% of the company’s stock.

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.