Metals Acquisition (NYSE:MTAL) Shares Gap Down to $12.85

Metals Acquisition Limited (NYSE:MTAL) gapped down prior to trading on Monday . The stock had previously closed at $12.85, but opened at $12.51. Metals Acquisition shares last traded at $12.00, with a volume of 288,731 shares trading hands.

Analysts Set New Price Targets

Separately, Scotiabank began coverage on Metals Acquisition in a research report on Monday, March 4th. They set a “sector outperform” rating and a $14.50 price objective for the company. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $13.92.

Metals Acquisition Trading Up 4.2 %

The company has a debt-to-equity ratio of 1.45, a current ratio of 0.31 and a quick ratio of 0.23. The firm’s 50-day moving average is $12.94 and its two-hundred day moving average is $11.81.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Kepos Capital LP bought a new position in shares of Metals Acquisition during the 3rd quarter valued at approximately $210,000. Tuttle Capital Management LLC bought a new position in Metals Acquisition during the first quarter valued at $517,000. Regal Partners Ltd lifted its holdings in shares of Metals Acquisition by 1.2% in the 3rd quarter. Regal Partners Ltd now owns 303,705 shares of the company’s stock worth $3,638,000 after acquiring an additional 3,705 shares during the last quarter. CI Investments Inc. purchased a new position in shares of Metals Acquisition during the 3rd quarter worth about $6,676,000. Finally, Adage Capital Partners GP L.L.C. grew its holdings in Metals Acquisition by 10.4% during the 3rd 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 last quarter. Hedge funds and other institutional investors own 87.47% of the company’s stock.

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.