FY2024 Earnings Estimate for Metals Acquisition Limited (NYSE:MTAL) Issued By National Bank Financial

Metals Acquisition Limited (NYSE:MTAL) – National Bank Financial reduced their FY2024 earnings per share (EPS) estimates for Metals Acquisition in a research note issued on Tuesday, July 23rd. National Bank Financial analyst S. Nagle now forecasts that the company will post earnings of ($0.31) per share for the year, down from their prior estimate of $0.41. The consensus estimate for Metals Acquisition’s current full-year earnings is $0.41 per share. National Bank Financial also issued estimates for Metals Acquisition’s FY2027 earnings at $1.23 EPS.

A number of other brokerages also recently commented on MTAL. BMO Capital Markets boosted their price objective on Metals Acquisition from $13.00 to $15.00 and gave the stock a “market perform” rating in a research report on Tuesday. Scotiabank upped their price target on Metals Acquisition from $15.50 to $17.00 and gave the company a “sector outperform” rating in a report on Thursday, May 30th.

Metals Acquisition Stock Up 0.9 %

Shares of Metals Acquisition stock opened at $12.76 on Friday. Metals Acquisition has a one year low of $9.50 and a one year high of $15.26. 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 business has a 50-day simple moving average of $13.83 and a 200-day simple moving average of $13.05.

Hedge Funds Weigh In On Metals Acquisition

Several hedge funds have recently added to or reduced their stakes in the stock. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund increased its stake in Metals Acquisition by 8.3% in the fourth quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 3,572,728 shares of the company’s stock valued at $44,159,000 after purchasing an additional 272,727 shares during the last quarter. Platinum Investment Management Ltd. increased its stake in Metals Acquisition by 9.8% in the fourth quarter. Platinum Investment Management Ltd. now owns 2,236,246 shares of the company’s stock valued at $27,640,000 after purchasing an additional 199,898 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in Metals Acquisition in the second quarter valued at approximately $2,141,000. Finally, Tuttle Capital Management LLC purchased a new position in Metals Acquisition in the first quarter valued at approximately $517,000. 87.47% of the stock is currently owned by hedge funds and other institutional investors.

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.