Metals Acquisition (NYSE:MTAL) Sees Unusually-High Trading Volume

Shares of Metals Acquisition Limited (NYSE:MTALGet Free Report) saw unusually-strong trading volume on Wednesday . Approximately 43,711 shares were traded during trading, an increase of 50% from the previous session’s volume of 29,150 shares.The stock last traded at $13.00 and had previously closed at $13.00.

Analyst Ratings Changes

MTAL has been the subject of a number of recent analyst reports. National Bank Financial started coverage on shares of Metals Acquisition in a report on Thursday, December 14th. They set an “outperform” rating and a $14.00 price target for the company. Eight Capital set a $15.00 target price on Metals Acquisition and gave the stock a “buy” rating in a research note on Wednesday, December 6th. Finally, Scotiabank began coverage on Metals Acquisition in a report on Monday, March 4th. They issued a “sector outperform” rating and a $14.50 target price for the company. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Metals Acquisition currently has a consensus rating of “Buy” and a consensus target price of $13.92.

Read Our Latest Stock Analysis on MTAL

Metals Acquisition Stock Performance

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 company has a 50 day simple moving average of $12.50 and a 200-day simple moving average of $11.53.

Institutional Trading of Metals Acquisition

Several institutional investors and hedge funds have recently bought and sold shares of the company. Platinum Investment Management Ltd. grew its position in Metals Acquisition by 9.8% during the fourth quarter. Platinum Investment Management Ltd. now owns 2,236,246 shares of the company’s stock valued at $27,640,000 after acquiring an additional 199,898 shares during the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund increased its position 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 valued at $44,159,000 after purchasing an additional 272,727 shares during the last quarter. Sprott Inc. bought a new position in shares of Metals Acquisition in the 3rd quarter worth approximately $17,970,000. Regal Partners Ltd boosted its holdings in shares of Metals Acquisition by 1.2% in the third quarter. Regal Partners Ltd now owns 303,705 shares of the company’s stock worth $3,638,000 after buying an additional 3,705 shares during the last quarter. Finally, Kepos Capital LP bought a new stake in Metals Acquisition during the third quarter valued at approximately $210,000. 87.47% of the stock is currently owned by hedge funds and other institutional investors.

About Metals Acquisition

(Get Free Report)

Metals Acquisition Limited focuses on operating and acquiring metals and mining businesses. The company operates the CSA copper mine in Cobar, Australia. Metals Acquisition Limited is headquartered in Saint Helier, Jersey.

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