MAC Copper Limited (NYSE:MTAL) Stock Short Interest Drops 97.9%

MAC Copper Limited (NYSE:MTAL) was the target of a significant drop in short interest in the month of September. As of September 15th, there was short interest totaling 25 shares, a drop of 97.9% from the August 31st total of 1,171 shares. Based on an average trading volume of 16,289 shares, the short-interest ratio is currently 0.0 days. Approximately 0.0% of the shares of the company are sold short.

MAC Copper Stock Performance

Shares of NYSE:MTAL remained flat at $10.17 during mid-day trading on Thursday. The company had a trading volume of 41,836 shares, compared to its average volume of 51,541. The stock’s 50 day simple moving average is $10.18 and its 200 day simple moving average is $10.54. MAC Copper has a 52 week low of $9.95 and a 52 week high of $11.80.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded shares of MAC Copper from a “sell (d-)” rating to a “sell (e)” rating in a research report on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy”.

About MAC Copper

MAC Copper Limited (NYSE: MTAL) is a copper mining company focused on the ownership and operation of the CSA Copper Mine in the Cobar region of New South Wales, Australia. The company was formerly known as Metals Acquisition Limited and acquired the CSA operation from Glencore in 2023.

The CSA Copper Mine is an underground mining operation that produces copper concentrate for sale to international customers. Its activities include underground mining, ore processing and the production of copper concentrate, with operations supported by established mining and processing infrastructure.

MAC Copper’s business is concentrated in Australia, while its copper products serve global markets.