Metals Acquisition Limited (NYSE:MTAL) Given Consensus Recommendation of “Buy” by Brokerages

Metals Acquisition Limited (NYSE:MTAL) has earned an average rating of “Buy” from the five research firms that are currently covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a buy rating. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $13.92.

Separately, Scotiabank began coverage on Metals Acquisition in a research report on Monday, March 4th. They issued a “sector outperform” rating and a $14.50 price objective on the stock.

Institutional Investors Weigh In On Metals Acquisition

Institutional investors and hedge funds have recently bought and sold shares of the company. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund increased its stake in shares of Metals Acquisition by 8.3% during 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 buying an additional 272,727 shares during the period. Sprott Inc. purchased a new position in Metals Acquisition during the 3rd quarter valued at about $17,970,000. Adage Capital Partners GP L.L.C. increased its position in Metals Acquisition by 10.4% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 687,139 shares of the company’s stock valued at $8,232,000 after purchasing an additional 64,616 shares during the period. CI Investments Inc. purchased a new stake in shares of Metals Acquisition in the 3rd quarter worth approximately $6,676,000. Finally, Kepos Capital LP purchased a new stake in shares of Metals Acquisition in the 3rd quarter worth approximately $210,000. 87.47% of the stock is owned by institutional investors.

Metals Acquisition Stock Performance

MTAL opened at $13.30 on Tuesday. Metals Acquisition has a one year low of $8.49 and a one year high of $14.11. The company has a quick ratio of 0.23, a current ratio of 0.31 and a debt-to-equity ratio of 1.45. The stock’s 50 day moving average price is $12.84 and its 200-day moving average price is $11.75.

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.