Metals Acquisition (NYSE:MTAL) PT Lowered to $16.00

Metals Acquisition (NYSE:MTAL) had its price objective lowered by stock analysts at Scotiabank from $17.00 to $16.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a “sector outperform” rating on the stock. Scotiabank’s target price suggests a potential upside of 39.25% from the company’s current price.

Separately, BMO Capital Markets increased their price target on shares of Metals Acquisition from $13.00 to $15.00 and gave the company a “market perform” rating in a research report on Tuesday, July 23rd.

Metals Acquisition Trading Down 2.9 %

NYSE:MTAL opened at $11.49 on Monday. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.31 and a quick ratio of 0.23. Metals Acquisition has a 1-year low of $9.50 and a 1-year high of $15.26. The business’s 50-day moving average price is $12.94 and its two-hundred day moving average price is $13.05.

Institutional Investors Weigh In On Metals Acquisition

Hedge funds have recently modified their holdings of the business. Amalgamated Bank acquired a new position in shares of Metals Acquisition in the 2nd quarter valued at approximately $26,000. Marshall Wace LLP lifted its stake in Metals Acquisition by 57.4% in the second quarter. Marshall Wace LLP now owns 24,126 shares of the company’s stock valued at $330,000 after buying an additional 8,799 shares in the last quarter. Squarepoint Ops LLC acquired a new position in shares of Metals Acquisition in the second quarter valued at approximately $205,000. The Manufacturers Life Insurance Company acquired a new position in shares of Metals Acquisition in the second quarter valued at approximately $278,000. Finally, Tuttle Capital Management LLC bought a new stake in shares of Metals Acquisition during the first quarter worth $517,000. Institutional investors and hedge funds own 87.47% of the company’s stock.

Metals Acquisition Company Profile

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.