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

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

Metals Acquisition Trading Up 0.1 %

Shares of NYSE MTAL traded up $0.01 during mid-day trading on Monday, reaching $10.62. The company had a trading volume of 112,098 shares, compared to its average volume of 134,773. The company has a current ratio of 0.84, a quick ratio of 0.69 and a debt-to-equity ratio of 0.85. The firm has a 50 day simple moving average of $12.00 and a two-hundred day simple moving average of $12.32. Metals Acquisition has a 52-week low of $9.89 and a 52-week high of $15.26.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Amalgamated Bank purchased a new position in Metals Acquisition during the 2nd quarter worth $26,000. Quarry LP acquired a new stake in shares of Metals Acquisition in the 3rd quarter worth $34,000. Quantbot Technologies LP acquired a new stake in shares of Metals Acquisition in the 3rd quarter worth $46,000. Regal Partners Ltd lifted its stake in shares of Metals Acquisition by 1.7% in the 3rd 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. Finally, FMR LLC acquired a new stake in shares of Metals Acquisition in the 3rd quarter worth $107,000. 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.