Metals Acquisition (NYSE:MTAL) Hits New 1-Year Low – What’s Next?

Metals Acquisition Limited (NYSE:MTAL) shares hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $9.30 and last traded at $9.32, with a volume of 133156 shares traded. The stock had previously closed at $9.54.

Wall Street Analysts Forecast Growth

Separately, Scotiabank dropped their price objective on shares of Metals Acquisition from $16.00 to $14.50 and set a “sector outperform” rating for the company in a report on Monday, January 6th.

Metals Acquisition Price Performance

The firm has a 50 day moving average price of $10.60 and a 200-day moving average price of $11.56. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.84 and a quick ratio of 0.69.

Institutional Investors Weigh In On Metals Acquisition

Institutional investors have recently modified their holdings of the company. Squarepoint Ops LLC purchased a new stake in Metals Acquisition during the 4th quarter worth about $235,000. Tidal Investments LLC raised its holdings in Metals Acquisition by 33.6% during the fourth quarter. Tidal Investments LLC now owns 17,982 shares of the company’s stock worth $191,000 after purchasing an additional 4,524 shares in the last quarter. SailingStone Capital Partners LLC lifted its position in shares of Metals Acquisition by 3.9% during the 4th quarter. SailingStone Capital Partners LLC now owns 2,633,391 shares of the company’s stock worth $27,967,000 after buying an additional 98,925 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of Metals Acquisition by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 15,170 shares of the company’s stock valued at $161,000 after buying an additional 4,990 shares in the last quarter. Finally, Millennium Management LLC lifted its position in Metals Acquisition by 11.2% in the fourth quarter. Millennium Management LLC now owns 2,028,073 shares of the company’s stock valued at $21,538,000 after acquiring an additional 204,439 shares during the last quarter. 87.47% of the stock is owned by hedge funds and other institutional investors.

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.