Scotiabank Has Lowered Expectations for Metals Acquisition (NYSE:MTAL) Stock Price

Metals Acquisition (NYSE:MTAL) had its price objective reduced by Scotiabank from $16.00 to $14.50 in a report released on Monday,Benzinga reports. They currently have a sector outperform rating on the stock.

Metals Acquisition Trading Up 1.8 %

Shares of MTAL opened at $10.44 on Monday. Metals Acquisition has a 1 year low of $9.89 and a 1 year high of $15.26. The stock’s 50-day moving average price is $11.88 and its two-hundred day moving average price is $12.27. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.69 and a current ratio of 0.84.

Hedge Funds Weigh In On Metals Acquisition

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Amalgamated Bank acquired a new stake in Metals Acquisition during the 2nd quarter worth $26,000. Quarry LP acquired a new stake in shares of Metals Acquisition during the third quarter worth about $34,000. Quantbot Technologies LP bought a new position in shares of Metals Acquisition during the 3rd quarter valued at about $46,000. FMR LLC acquired a new position in shares of Metals Acquisition in the 3rd quarter valued at approximately $107,000. Finally, Tidal Investments LLC bought a new stake in Metals Acquisition during the 3rd quarter worth approximately $186,000. 87.47% of the stock is owned by institutional investors.

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.