MAC Copper Limited (NYSE:MTAL – Get Free Report) saw a large growth in short interest in October. As of October 30th, there was short interest totaling 974 shares, a growth of 5,311.1% from the October 15th total of 18 shares. Based on an average daily trading volume, of 4,841 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.0% of the company’s shares are sold short.
MAC Copper Price Performance
Shares of NYSE:MTAL opened at $10.11 on Thursday. The business’s 50 day moving average is $10.15 and its 200 day moving average is $10.71. MAC Copper has a 52-week low of $9.95 and a 52-week high of $11.80.
Hedge Funds Weigh In On MAC Copper
A hedge fund recently bought a new stake in MAC Copper stock. First Trust Capital Management L.P. purchased a new stake in shares of MAC Copper Limited (NYSE:MTAL – Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 351,270 shares of the company’s stock, valued at approximately $3,569,000. First Trust Capital Management L.P. owned 1.15% of MAC Copper at the end of the most recent quarter. 87.47% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings downgraded shares of MAC Copper from a “sell (d-)” rating to a “sell (e)” rating in a research note on Friday, August 14th. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the company has an average rating of “Sell”.
Get Our Latest Research Report on MAC Copper
MAC Copper Company Profile
MAC Copper Limited, formerly known as Metals Acquisition Limited, is an Australian mining company focused on copper production. Its principal operating asset is the CSA Copper Mine near Cobar in New South Wales. The underground mine produces copper concentrate for sale to customers in the global metals market. The mine has a long operating history and was acquired by the company from Glencore in 2023. MAC Copper is listed on the New York Stock Exchange under the symbol MTAL and is focused on operating and developing its copper mining business in Australia.
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