MAC Copper (NYSE:MTAL) Releases Earnings Results

MAC Copper (NYSE:MTAL) announced its quarterly earnings results on Friday. The company reported $0.04 EPS for the quarter, FiscalAI reports.

MAC Copper Stock Up 0.1%

NYSE MTAL traded up $0.01 during trading hours on Friday, hitting $10.11. The company had a trading volume of 113 shares, compared to its average volume of 13,643. MAC Copper has a 52 week low of $9.95 and a 52 week high of $11.80. The firm has a 50 day simple moving average of $10.14 and a 200 day simple moving average of $10.69.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e)” rating on shares of MAC Copper in a report on Thursday. One analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

Institutional Investors Weigh In On MAC Copper

A hedge fund recently bought a new stake in MAC Copper stock. First Trust Capital Management L.P. acquired a new stake in MAC Copper Limited (NYSE:MTAL) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 351,270 shares of the company’s stock, valued at approximately $3,569,000. First Trust Capital Management L.P. owned 1.15% of MAC Copper at the end of the most recent quarter. Hedge funds and other institutional investors own 87.47% of the company’s stock.

MAC Copper Company Profile

MAC Copper Limited, formerly known as Metals Acquisition Limited, is an Australian mining company focused on copper production. Its principal operating asset is the CSA Copper Mine near Cobar in New South Wales. The underground mine produces copper concentrate for sale to customers in the global metals market. The mine has a long operating history and was acquired by the company from Glencore in 2023. MAC Copper is listed on the New York Stock Exchange under the symbol MTAL and is focused on operating and developing its copper mining business in Australia.