Metals Acquisition Limited (NYSE:MTAL) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Metals Acquisition Limited (NYSE:MTAL) has been assigned an average rating of “Moderate Buy” from the five research firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $14.00.

Several equities analysts have weighed in on the company. Scotiabank raised their price target on Metals Acquisition from $15.50 to $17.00 and gave the stock a “sector outperform” rating in a research report on Thursday, May 30th. BMO Capital Markets cut Metals Acquisition from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $13.00 to $12.00 in a research report on Tuesday, May 21st.

Institutional Trading of Metals Acquisition

A number of hedge funds have recently added to or reduced their stakes in MTAL. Tuttle Capital Management LLC acquired a new position in shares of Metals Acquisition during the 1st quarter valued at about $517,000. Adage Capital Partners GP L.L.C. grew its holdings in Metals Acquisition by 10.4% in the third quarter. Adage Capital Partners GP L.L.C. now owns 687,139 shares of the company’s stock valued at $8,232,000 after purchasing an additional 64,616 shares during the period. Sprott Inc. acquired a new position in Metals Acquisition during the third quarter worth approximately $17,970,000. Platinum Investment Management Ltd. raised its stake in Metals Acquisition by 9.8% during the fourth quarter. Platinum Investment Management Ltd. now owns 2,236,246 shares of the company’s stock worth $27,640,000 after purchasing an additional 199,898 shares during the period. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund boosted its holdings in shares of Metals Acquisition by 8.3% in the 4th quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 3,572,728 shares of the company’s stock valued at $44,159,000 after purchasing an additional 272,727 shares during the last quarter. 87.47% of the stock is owned by institutional investors and hedge funds.

Metals Acquisition Stock Up 1.2 %

MTAL stock opened at $14.52 on Friday. The company has a current ratio of 0.31, a quick ratio of 0.23 and a debt-to-equity ratio of 1.45. Metals Acquisition has a 12 month low of $9.50 and a 12 month high of $15.26. The company’s 50 day simple moving average is $13.79 and its 200-day simple moving average is $12.91.

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.