What is Scotiabank’s Estimate for MTAL FY2024 Earnings?

Posted by Oscar Bower on Jan 9th, 2025

Metals Acquisition Limited (NYSE:MTAL – Free Report) – Scotiabank reduced their FY2024 earnings per share (EPS) estimates for Metals Acquisition in a research note issued on Wednesday, January 8th. Scotiabank analyst E. Winmill now expects that the company will earn $0.17 per share for the year, down from their previous estimate of $0.25. Scotiabank currently has a “Sector Outperform” rating and a $14.50 target price on the stock. The consensus estimate for Metals Acquisition’s current full-year earnings is $0.33 per share. Scotiabank also issued estimates for Metals Acquisition’s FY2025 earnings at $1.19 EPS.

Metals Acquisition Stock Performance

Shares of MTAL opened at $10.44 on Thursday. The company has a current ratio of 0.84, a quick ratio of 0.69 and a debt-to-equity ratio of 0.85. The firm has a 50-day moving average price of $11.88 and a 200 day moving average price of $12.27. Metals Acquisition has a 52-week low of $9.89 and a 52-week high of $15.26.

Institutional Investors Weigh In On Metals Acquisition

A number of institutional investors have recently added to or reduced their stakes in the company. Amalgamated Bank bought a new stake in shares of Metals Acquisition in the 2nd quarter worth $26,000. Quarry LP acquired a new position in Metals Acquisition during the third quarter worth about $34,000. Quantbot Technologies LP bought a new stake in Metals Acquisition in the third quarter worth about $46,000. Regal Partners Ltd lifted its holdings in Metals Acquisition by 1.7% in the 3rd quarter. Regal Partners Ltd now owns 406,327 shares of the company’s stock valued at $5,628,000 after acquiring an additional 6,651 shares during the last quarter. Finally, FMR LLC bought a new position in shares of Metals Acquisition during the 3rd quarter valued at about $107,000. 87.47% of the stock is currently owned by institutional investors and hedge funds.

About Metals Acquisition

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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.