National Bank Financial Comments on MTAL FY2024 Earnings

Metals Acquisition Limited (NYSE:MTAL) – Equities researchers at National Bank Financial lowered their FY2024 earnings per share (EPS) estimates for shares of Metals Acquisition in a research report issued on Tuesday, February 4th. National Bank Financial analyst S. Nagle now anticipates that the company will earn $0.15 per share for the year, down from their prior forecast of $0.41. The consensus estimate for Metals Acquisition’s current full-year earnings is $0.29 per share. National Bank Financial also issued estimates for Metals Acquisition’s Q4 2024 earnings at $0.00 EPS.

Separately, Scotiabank reduced their price objective on shares of Metals Acquisition from $16.00 to $14.50 and set a “sector outperform” rating for the company in a research note on Monday, January 6th.

Metals Acquisition Stock Down 0.1 %

Shares of Metals Acquisition stock opened at $10.83 on Friday. Metals Acquisition has a one year low of $9.89 and a one year high of $15.26. 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 company has a 50-day simple moving average of $11.16 and a two-hundred day simple moving average of $11.84.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Barclays PLC boosted its holdings in Metals Acquisition by 286.6% in the third quarter. Barclays PLC now owns 72,260 shares of the company’s stock worth $1,000,000 after acquiring an additional 53,567 shares in the last quarter. State Street Corp raised its position in shares of Metals Acquisition by 28.7% in the 3rd quarter. State Street Corp now owns 698,943 shares of the company’s stock valued at $9,680,000 after purchasing an additional 156,022 shares during the last quarter. Creative Planning acquired a new stake in Metals Acquisition in the 3rd quarter worth approximately $190,000. FMR LLC purchased a new stake in Metals Acquisition during the 3rd quarter worth approximately $107,000. Finally, Wellington Management Group LLP grew its position in Metals Acquisition by 799.1% during the 3rd quarter. Wellington Management Group LLP now owns 909,588 shares of the company’s stock worth $12,598,000 after purchasing an additional 808,418 shares during the last quarter. 87.47% of the stock is currently owned by hedge funds and other 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.