Investors Buy High Volume of Lifezone Metals Call Options (NYSE:LZM)

Lifezone Metals Limited (NYSE:LZM) was the target of unusually large options trading on Friday. Traders bought 20,262 call options on the company. This represents an increase of 3,051% compared to the typical volume of 643 call options.

Lifezone Metals Trading Up 3.5%

NYSE:LZM opened at $3.42 on Friday. The firm has a market capitalization of $292.01 million, a P/E ratio of -0.73 and a beta of 1.26. The business has a 50 day simple moving average of $4.02 and a 200 day simple moving average of $4.44. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.67 and a quick ratio of 0.46. Lifezone Metals has a 12-month low of $3.00 and a 12-month high of $6.40.

Hedge Funds Weigh In On Lifezone Metals

Institutional investors have recently modified their holdings of the company. CIBC Asset Management Inc bought a new stake in Lifezone Metals in the 4th quarter valued at about $49,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Lifezone Metals in the third quarter valued at approximately $71,000. Ellevest Inc. bought a new stake in shares of Lifezone Metals during the fourth quarter valued at approximately $59,000. Virtu Financial LLC bought a new stake in shares of Lifezone Metals during the third quarter valued at approximately $83,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Lifezone Metals by 50.1% during the third quarter. JPMorgan Chase & Co. now owns 19,826 shares of the company’s stock valued at $109,000 after buying an additional 6,619 shares during the last quarter.

Analyst Ratings Changes

Several analysts have issued reports on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Lifezone Metals in a research note on Tuesday, June 9th. Zacks Research upgraded Lifezone Metals to a “hold” rating in a research report on Wednesday, May 6th. Finally, Wall Street Zen raised Lifezone Metals from a “sell” rating to a “hold” rating in a research report on Saturday, July 4th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $7.00.

About Lifezone Metals

Lifezone Metals Limited engages in the extraction and refining of metals. It supplies lower-carbon and sulfur dioxide emission metals to the battery storage, EV, and hydrogen markets. The company’s products include nickel, copper, and cobalt. Its flagship project is the Kabanga nickel project in North-West Tanzania. The company is based in Ramsey, Isle of Man.