Metalla Royalty & Streaming (NYSEAMERICAN:MTA) Trading Up 1.9% – Time to Buy?

Metalla Royalty & Streaming Ltd. (NYSEAMERICAN:MTA)’s share price rose 1.9% during mid-day trading on Monday . The company traded as high as $7.56 and last traded at $7.50. 312,453 shares traded hands during trading, a decline of 18% from the average daily volume of 379,362 shares. The stock had previously closed at $7.36.

Analyst Upgrades and Downgrades

Separately, Scotiabank lowered their target price on Metalla Royalty & Streaming from $9.00 to $8.50 and set a “sector perform” rating on the stock in a report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Metalla Royalty & Streaming currently has an average rating of “Moderate Buy” and a consensus price target of $8.50.

Metalla Royalty & Streaming Stock Up 6.9%

The company has a market capitalization of $784.47 million, a PE ratio of -209.75 and a beta of 1.35. The company has a quick ratio of 3.45, a current ratio of 3.45 and a debt-to-equity ratio of 0.05. The firm has a 50-day moving average of $7.38 and a two-hundred day moving average of $7.44.

Hedge Funds Weigh In On Metalla Royalty & Streaming

Hedge funds have recently modified their holdings of the business. Cubist Systematic Strategies LLC purchased a new stake in Metalla Royalty & Streaming in the first quarter valued at approximately $63,000. Jane Street Group LLC boosted its position in shares of Metalla Royalty & Streaming by 30.5% during the first quarter. Jane Street Group LLC now owns 25,846 shares of the company’s stock worth $74,000 after buying an additional 6,040 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Metalla Royalty & Streaming by 42.1% in the second quarter. JPMorgan Chase & Co. now owns 14,071 shares of the company’s stock valued at $54,000 after buying an additional 4,171 shares in the last quarter. Walleye Capital LLC acquired a new stake in shares of Metalla Royalty & Streaming in the second quarter valued at $562,000. Finally, Marshall Wace LLP raised its holdings in shares of Metalla Royalty & Streaming by 32.0% in the 2nd quarter. Marshall Wace LLP now owns 419,373 shares of the company’s stock valued at $1,610,000 after buying an additional 101,716 shares during the period. 17.82% of the stock is currently owned by hedge funds and other institutional investors.

Metalla Royalty & Streaming Company Profile

Metalla Royalty & Streaming Ltd. is a Canada‐based precious metals royalty and streaming company focused on acquiring and managing royalties and streams on mineral properties. Headquartered in Vancouver, British Columbia, the firm provides financing to mining operators by purchasing royalty and stream interests that grant it a share of future metal production or revenues. These non‐dilutive arrangements enable Metalla to participate in the upside of mining projects without the operational risks associated with direct mine ownership.

The company’s portfolio spans a broad range of precious and battery metals, including gold, silver, copper, nickel and cobalt.