Lifezone Metals (NYSE:LZM) Shares Gap Up – Still a Buy?

Shares of Lifezone Metals Limited (NYSE:LZM) gapped up before the market opened on Monday . The stock had previously closed at $5.18, but opened at $5.69. Lifezone Metals shares last traded at $5.9020, with a volume of 992,097 shares traded.

Analyst Upgrades and Downgrades

Several research firms have weighed in on LZM. Weiss Ratings reissued a “sell (d-)” rating on shares of Lifezone Metals in a research report on Monday, December 29th. BTIG Research restated a “buy” rating and set a $7.00 price objective on shares of Lifezone Metals in a report on Friday, March 20th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Lifezone Metals currently has a consensus rating of “Hold” and a consensus target price of $7.00.

Lifezone Metals Stock Up 11.5%

The stock has a fifty day moving average of $4.08 and a two-hundred day moving average of $4.51. The stock has a market cap of $493.82 million, a price-to-earnings ratio of -1.23 and a beta of 0.78. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.24.

Lifezone Metals (NYSE:LZM) last posted its earnings results on Friday, March 20th. The company reported ($0.04) EPS for the quarter. The firm had revenue of $0.37 million during the quarter. As a group, analysts predict that Lifezone Metals Limited will post -0.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Lifezone Metals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LZM. Invesco Ltd. grew its holdings in Lifezone Metals by 90.9% in the 4th quarter. Invesco Ltd. now owns 2,840,018 shares of the company’s stock worth $12,127,000 after buying an additional 1,352,119 shares in the last quarter. Creative Planning lifted its position in shares of Lifezone Metals by 260.7% during the 3rd quarter. Creative Planning now owns 392,957 shares of the company’s stock valued at $2,153,000 after acquiring an additional 284,006 shares during the last quarter. Alps Advisors Inc. lifted its position in shares of Lifezone Metals by 135.2% during the 4th quarter. Alps Advisors Inc. now owns 306,780 shares of the company’s stock valued at $1,310,000 after acquiring an additional 176,338 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of Lifezone Metals by 119.1% in the fourth quarter. Marshall Wace LLP now owns 303,600 shares of the company’s stock valued at $1,296,000 after purchasing an additional 165,035 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Lifezone Metals by 200.9% in the second quarter. Russell Investments Group Ltd. now owns 201,680 shares of the company’s stock valued at $831,000 after purchasing an additional 134,655 shares in the last quarter.

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.