Metals Acquisition (NYSE:MTAL) Trading 7.5% Higher – Time to Buy?

Metals Acquisition Limited (NYSE:MTAL) traded up 7.5% on Tuesday . The company traded as high as $10.10 and last traded at $10.08. 37,386 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 279,494 shares. The stock had previously closed at $9.37.

Wall Street Analysts Forecast Growth

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

Metals Acquisition Price Performance

The company’s 50-day simple moving average is $10.63 and its two-hundred day simple moving average is $11.61. The company has a current ratio of 0.84, a quick ratio of 0.69 and a debt-to-equity ratio of 0.85.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MTAL. CWA Asset Management Group LLC bought a new stake in shares of Metals Acquisition in the 3rd quarter worth approximately $278,000. Regal Partners Ltd lifted its stake in Metals Acquisition by 1.7% in the third quarter. Regal Partners Ltd now owns 406,327 shares of the company’s stock worth $5,628,000 after acquiring an additional 6,651 shares during the period. Bank of Montreal Can purchased a new position in Metals Acquisition during the 3rd quarter valued at $6,049,000. Quantbot Technologies LP bought a new position in Metals Acquisition in the 3rd quarter worth $46,000. Finally, FMR LLC purchased a new stake in shares of Metals Acquisition in the 3rd quarter worth about $107,000. Hedge funds and other 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.