Lifezone Metals (NYSE:LZM) Shares Down 2.5% – Time to Sell?

Shares of Lifezone Metals Limited (NYSE:LZM) dropped 2.5% during mid-day trading on Friday . The company traded as low as $4.39 and last traded at $4.4180. Approximately 192,159 shares changed hands during mid-day trading, a decline of 33% from the average daily volume of 285,181 shares. The stock had previously closed at $4.53.

Analysts Set New Price Targets

A number of brokerages recently commented on LZM. BTIG Research dropped their target price on Lifezone Metals from $11.00 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, November 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lifezone Metals in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $7.00.

Lifezone Metals Price Performance

The business’s 50-day simple moving average is $4.82 and its two-hundred day simple moving average is $4.72.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of LZM. CIBC Asset Management Inc acquired a new stake in Lifezone Metals during the 4th quarter worth $49,000. Ellevest Inc. purchased a new position in shares of Lifezone Metals during the 4th quarter worth $59,000. Ballentine Partners LLC acquired a new stake in Lifezone Metals during the third quarter worth about $66,000. EdgePoint Investment Group Inc. purchased a new position in Lifezone Metals during the second quarter worth about $71,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Lifezone Metals in the 3rd quarter valued at about $71,000.

Lifezone Metals Company Profile

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.