MAC Copper Limited’s Lock-Up Period To Expire Tomorrow (NYSE:MTAL)

MAC Copper’s (NYSE:MTAL) lock-up period is set to expire on Tuesday, September 8th. MAC Copper had issued 20,000,000 shares in its initial public offering on March 12th. The total size of the offering was $200,000,000 based on an initial share price of $10.00. After the end of MAC Copper’s lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded MAC Copper from a “sell (d-)” rating to a “sell (e)” rating in a research note on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, MAC Copper has an average rating of “Moderate Buy”.

MAC Copper Stock Down 0.2%

Shares of NYSE MTAL opened at $10.20 on Monday. MAC Copper has a 1-year low of $10.00 and a 1-year high of $11.80. The business’s fifty day moving average price is $10.20 and its two-hundred day moving average price is $10.74.

Institutional Trading of MAC Copper

Large investors have recently modified their holdings of the company. UBS Group AG grew its position in MAC Copper by 1,690.6% in the 3rd quarter. UBS Group AG now owns 1,234,977 shares of the company’s stock worth $15,079,000 after purchasing an additional 1,166,006 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of MAC Copper during the second quarter valued at approximately $13,340,000. Millennium Management LLC boosted its position in shares of MAC Copper by 173.5% during the third quarter. Millennium Management LLC now owns 1,103,835 shares of the company’s stock worth $13,478,000 after buying an additional 700,272 shares during the period. Alliancebernstein L.P. boosted its position in shares of MAC Copper by 814.4% during the third quarter. Alliancebernstein L.P. now owns 727,596 shares of the company’s stock worth $8,884,000 after buying an additional 648,026 shares during the period. Finally, AQR Arbitrage LLC grew its holdings in MAC Copper by 534.0% in the 3rd quarter. AQR Arbitrage LLC now owns 640,206 shares of the company’s stock worth $7,817,000 after buying an additional 539,234 shares in the last quarter. Institutional investors and hedge funds own 87.47% of the company’s stock.

MAC Copper 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.