Metals Acquisition (NYSE:MTAL) Now Covered by BMO Capital Markets

BMO Capital Markets started coverage on shares of Metals Acquisition (NYSE:MTAL) in a research report released on Wednesday, Marketbeat reports. The firm issued an outperform rating and a $11.00 target price on the stock.

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

Metals Acquisition Stock Performance

Shares of Metals Acquisition stock opened at $8.76 on Wednesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.69 and a current ratio of 0.84. Metals Acquisition has a 1 year low of $7.69 and a 1 year high of $15.26. The firm’s 50-day simple moving average is $9.88 and its 200-day simple moving average is $11.13.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of MTAL. Glencore plc bought a new position in Metals Acquisition in the fourth quarter worth about $106,200,000. SailingStone Capital Partners LLC lifted its holdings in shares of Metals Acquisition by 3.9% in the 4th quarter. SailingStone Capital Partners LLC now owns 2,633,391 shares of the company’s stock worth $27,967,000 after purchasing an additional 98,925 shares during the last quarter. Millennium Management LLC boosted its position in Metals Acquisition by 11.2% during the 4th quarter. Millennium Management LLC now owns 2,028,073 shares of the company’s stock valued at $21,538,000 after purchasing an additional 204,439 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Metals Acquisition by 11.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,865,422 shares of the company’s stock worth $19,811,000 after buying an additional 194,813 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in Metals Acquisition by 58.5% during the 4th quarter. American Century Companies Inc. now owns 906,421 shares of the company’s stock worth $9,626,000 after buying an additional 334,505 shares during the last quarter. 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.