Scotiabank Has Lowered Expectations for Metals Acquisition (NYSE:MTAL) Stock Price

Metals Acquisition (NYSE:MTAL) had its price objective lowered by equities research analysts at Scotiabank from $16.00 to $14.50 in a report released on Monday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the stock. Scotiabank’s price objective suggests a potential upside of 36.53% from the stock’s previous close.

Metals Acquisition Stock Performance

Shares of NYSE MTAL traded up $0.01 during midday trading on Monday, hitting $10.62. The company had a trading volume of 112,098 shares, compared to its average volume of 134,773. The company has a quick ratio of 0.69, a current ratio of 0.84 and a debt-to-equity ratio of 0.85. Metals Acquisition has a twelve month low of $9.89 and a twelve month high of $15.26. The business has a 50-day simple moving average of $12.00 and a two-hundred day simple moving average of $12.32.

Institutional Trading of Metals Acquisition

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Tidal Investments LLC purchased a new stake in shares of Metals Acquisition during the third quarter worth about $186,000. Barclays PLC grew its holdings in shares of Metals Acquisition by 286.6% during the third quarter. Barclays PLC now owns 72,260 shares of the company’s stock worth $1,000,000 after buying an additional 53,567 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Metals Acquisition by 799.1% during the third quarter. Wellington Management Group LLP now owns 909,588 shares of the company’s stock worth $12,598,000 after buying an additional 808,418 shares in the last quarter. State Street Corp grew its holdings in shares of Metals Acquisition by 28.7% during the third quarter. State Street Corp now owns 698,943 shares of the company’s stock worth $9,680,000 after buying an additional 156,022 shares in the last quarter. Finally, Quarry LP purchased a new stake in shares of Metals Acquisition during the third quarter worth about $34,000. Institutional investors and hedge funds 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.