Metals Acquisition (NYSE:MTAL) Hits New 52-Week Low – Here’s What Happened

Metals Acquisition Limited (NYSE:MTAL) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $9.45 and last traded at $9.54, with a volume of 113013 shares changing hands. The stock had previously closed at $9.54.

Analyst Upgrades and Downgrades

Separately, Scotiabank decreased their price target on Metals Acquisition from $16.00 to $14.50 and set a “sector outperform” rating on the stock in a research note on Monday, January 6th.

Metals Acquisition Stock Performance

The firm has a 50 day moving average price of $10.67 and a 200-day moving average price of $11.65. The company has a quick ratio of 0.69, a current ratio of 0.84 and a debt-to-equity ratio of 0.85.

Institutional Trading of Metals Acquisition

A number of large investors have recently made changes to their positions in the company. Glencore plc purchased a new position in Metals Acquisition in the fourth quarter valued at $106,200,000. Wellington Management Group LLP increased its holdings in shares of Metals Acquisition by 799.1% in the 3rd quarter. Wellington Management Group LLP now owns 909,588 shares of the company’s stock valued at $12,598,000 after acquiring an additional 808,418 shares during the last quarter. Bank of Montreal Can purchased a new stake in Metals Acquisition during the third quarter worth approximately $6,049,000. American Century Companies Inc. lifted its stake in Metals Acquisition by 58.5% during the fourth quarter. American Century Companies Inc. now owns 906,421 shares of the company’s stock worth $9,626,000 after purchasing an additional 334,505 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of Metals Acquisition by 11.2% in the 4th quarter. Millennium Management LLC now owns 2,028,073 shares of the company’s stock valued at $21,538,000 after buying an additional 204,439 shares in the last quarter. 87.47% of the stock is currently 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.