Metals Acquisition (NYSE:MTAL) Trading Down 3.1% – Time to Sell?

Metals Acquisition Limited (NYSE:MTAL)’s stock price dropped 3.1% during mid-day trading on Monday . The company traded as low as $10.35 and last traded at $10.36. Approximately 202,928 shares were traded during mid-day trading, a decline of 32% from the average daily volume of 297,743 shares. The stock had previously closed at $10.69.

Analyst Ratings Changes

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

Metals Acquisition Stock Up 0.0 %

The company’s fifty day moving average is $10.66 and its 200-day moving average is $11.58. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.69 and a current ratio of 0.84.

Institutional Investors Weigh In On Metals Acquisition

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP acquired a new position in shares of Metals Acquisition during the 3rd quarter worth about $34,000. Quadrant Capital Group LLC acquired a new position in shares of Metals Acquisition during the fourth quarter worth approximately $26,000. Quantbot Technologies LP bought a new stake in shares of Metals Acquisition in the third quarter valued at approximately $46,000. Signaturefd LLC acquired a new stake in shares of Metals Acquisition in the fourth quarter worth $36,000. Finally, FMR LLC bought a new position in Metals Acquisition during the third quarter worth $107,000. 87.47% of the stock is owned by institutional investors and hedge funds.

About Metals Acquisition

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.