Lifezone Metals (NYSE:LZM) Stock Price Down 5.5% – Here’s Why

Shares of Lifezone Metals Limited (NYSE:LZM) traded down 5.5% during trading on Thursday . The company traded as low as $4.50 and last traded at $4.56. 84,340 shares traded hands during mid-day trading, a decline of 25% from the average session volume of 111,846 shares. The stock had previously closed at $4.83.

Analyst Upgrades and Downgrades

Separately, Roth Mkm restated a “buy” rating and set a $14.00 target price on shares of Lifezone Metals in a research note on Wednesday, December 18th.

Lifezone Metals Trading Down 1.9 %

The company has a debt-to-equity ratio of 0.01, a current ratio of 1.09 and a quick ratio of 1.08. The stock has a 50-day simple moving average of $6.07 and a 200-day simple moving average of $6.39.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Creative Planning acquired a new stake in shares of Lifezone Metals in the 3rd quarter valued at about $174,000. MetLife Investment Management LLC raised its stake in Lifezone Metals by 129.1% during the third quarter. MetLife Investment Management LLC now owns 22,097 shares of the company’s stock valued at $155,000 after buying an additional 12,451 shares in the last quarter. State Street Corp lifted its holdings in Lifezone Metals by 14.8% during the 3rd quarter. State Street Corp now owns 381,229 shares of the company’s stock worth $2,669,000 after buying an additional 49,197 shares during the last quarter. Jane Street Group LLC grew its position in shares of Lifezone Metals by 15.5% in the 3rd quarter. Jane Street Group LLC now owns 15,749 shares of the company’s stock worth $110,000 after acquiring an additional 2,118 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of Lifezone Metals by 275.9% in the 3rd quarter. Barclays PLC now owns 48,032 shares of the company’s stock valued at $336,000 after acquiring an additional 35,253 shares during the last quarter.

About Lifezone Metals

Lifezone Metals Limited engages in the extraction and refining of metals. It supplies lower-carbon and sulfur dioxide emission metals to the battery storage, EV, and hydrogen markets. The company’s products include nickel, copper, and cobalt. Its flagship project is the Kabanga nickel project in North-West Tanzania.