Metals Acquisition (NYSE:MTAL) Shares Down 3.1% - What's Next?

On Monday, the stock price of Metals Acquisition Limited (NYSE:MTAL) experienced a decline of 3.1%. The shares traded at a low of $10.35 and closed the day at $10.36. A total of 202,928 shares changed hands, representing a 32% drop from the average trading volume of 297,743 shares. This downward trend follows a previous close of $10.69.

Analyst Ratings Changes

In a recent update, Scotiabank has adjusted its price target for Metals Acquisition shares, lowering it from $16.00 to $14.50 while retaining a "sector outperform" rating.

Metals Acquisition Price Performance

Currently, Metals Acquisition shows a current ratio of 0.84 and a quick ratio of 0.69, with a debt-to-equity ratio of 0.85. The fifty-day moving average stands at $10.66, while the 200-day moving average is $11.58.

Institutional Investors Weigh In

Several institutional investors have altered their positions in MTAL recently. Quarry LP acquired a new position worth $34,000 in the last quarter. Similarly, Quadrant Capital Group LLC and Quantbot Technologies LP made new acquisitions valued at about $26,000 and $46,000, respectively. Additionally, Signaturefd LLC invested approximately $36,000, and FMR LLC bought a stake valued at approximately $107,000. Institutional and hedge fund investors collectively own about 87.47% of the company’s stock.

Metals Acquisition Company Profile

Metals Acquisition Limited is focused on the mining and production of copper and silver. The company operates the CSA copper mine located in Cobar, Australia, and it was incorporated in 2022, with its headquarters in Saint Helier, Jersey.

Should You Invest $1,000 in Metals Acquisition Right Now?

Before making any investment decisions regarding Metals Acquisition, it is advisable to consider the recommendations of analysts. Although the stock currently holds a Moderate Buy rating, other stocks may present better opportunities for investment according to top analysts.

Metals, Acquisition, Stocks