Scotiabank Lowers Metals Acquisition (NYSE:MTAL) Price Target to $16.00

Metals Acquisition (NYSE:MTAL) had its price objective reduced by stock analysts at Scotiabank from $17.00 to $16.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “sector outperform” rating on the stock. Scotiabank’s price target indicates a potential upside of 39.25% from the company’s current price.

Separately, BMO Capital Markets upped their price objective on shares of Metals Acquisition from $13.00 to $15.00 and gave the company a “market perform” rating in a research note on Tuesday, July 23rd.

Metals Acquisition Stock Performance

Shares of MTAL opened at $11.49 on Monday. The company has a current ratio of 0.31, a quick ratio of 0.23 and a debt-to-equity ratio of 1.45. The business’s 50-day moving average is $12.94 and its 200-day moving average is $13.05. Metals Acquisition has a fifty-two week low of $9.50 and a fifty-two week high of $15.26.

Institutional Investors Weigh In On Metals Acquisition

A number of hedge funds and other institutional investors have recently made changes to their positions in MTAL. Amalgamated Bank bought a new position in shares of Metals Acquisition during the 2nd quarter valued at $26,000. Squarepoint Ops LLC acquired a new position in Metals Acquisition during the second quarter worth $205,000. The Manufacturers Life Insurance Company bought a new position in Metals Acquisition during the second quarter valued at about $278,000. Marshall Wace LLP raised its holdings in Metals Acquisition by 57.4% during the second 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 in the last quarter. Finally, Tuttle Capital Management LLC acquired a new stake in shares of Metals Acquisition in the first quarter worth about $517,000. 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.