Metals Acquisition (NYSE:MTAL) Stock Price Up 6.8% – Here’s What Happened

Metals Acquisition Limited (NYSE:MTAL)’s stock price rose 6.8% during trading on Wednesday . The company traded as high as $11.08 and last traded at $11.10. Approximately 29,530 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 198,527 shares. The stock had previously closed at $10.39.

Analyst Ratings Changes

Separately, Scotiabank lowered their price target on Metals Acquisition from $16.00 to $14.50 and set a “sector outperform” rating on the stock in a report on Monday, January 6th.

Metals Acquisition Stock Up 5.5 %

The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.69 and a current ratio of 0.84. The company’s 50-day moving average price is $11.38 and its 200 day moving average price is $11.95.

Institutional Investors Weigh In On Metals Acquisition

Hedge funds have recently modified their holdings of the business. Amalgamated Bank purchased a new position in Metals Acquisition during the second quarter valued at $26,000. Quarry LP bought a new position in shares of Metals Acquisition in the 3rd quarter valued at about $34,000. Quantbot Technologies LP bought a new stake in shares of Metals Acquisition in the 3rd quarter valued at approximately $46,000. FMR LLC bought a new position in shares of Metals Acquisition during the 3rd quarter valued at approximately $107,000. Finally, Tidal Investments LLC bought a new stake in Metals Acquisition in the third quarter worth $186,000. 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.