Metals Acquisition (NYSE:MTAL) PT Raised to $15.00 at BMO Capital Markets

Metals Acquisition (NYSE:MTAL) had its target price upped by BMO Capital Markets from $13.00 to $15.00 in a report released on Tuesday morning, Benzinga reports. BMO Capital Markets currently has a market perform rating on the stock.

Separately, Scotiabank raised their price target on shares of 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 Trading Up 3.1 %

Shares of MTAL stock opened at $13.18 on Tuesday. The company has a 50 day moving average of $13.81 and a 200-day moving average of $13.06. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.23 and a current ratio of 0.31. Metals Acquisition has a 12-month low of $9.50 and a 12-month high of $15.26.

Institutional Trading of Metals Acquisition

A number of hedge funds have recently made changes to their positions in MTAL. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund lifted its holdings in shares of Metals Acquisition by 8.3% during the 4th 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 worth $44,159,000 after acquiring an additional 272,727 shares during the last quarter. Platinum Investment Management Ltd. lifted its holdings in shares of Metals Acquisition by 9.8% during the 4th quarter. Platinum Investment Management Ltd. now owns 2,236,246 shares of the company’s stock worth $27,640,000 after acquiring an additional 199,898 shares during the last quarter. Tuttle Capital Management LLC bought a new stake in shares of Metals Acquisition during the 1st quarter worth $517,000. Finally, Bank of New York Mellon Corp bought a new stake in Metals Acquisition in the second quarter worth $2,141,000. 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.