Metals Acquisition Limited (NYSE:MTAL – Get Free Report) shares fell 5.1% during trading on Friday . The stock traded as low as $12.00 and last traded at $12.00. 1,807 shares were traded during mid-day trading, a decline of 84% from the average session volume of 11,620 shares. The stock had previously closed at $12.64.
Analysts Set New Price Targets
Several research firms have recently commented on MTAL. 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 target for the company. National Bank Financial began coverage on Metals Acquisition in a research report on Thursday, December 14th. They issued an “outperform” rating and a $14.00 price target for the company. Finally, Eight Capital set a $15.00 price target on Metals Acquisition and gave the stock a “buy” rating in a research report on Wednesday, December 6th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $13.92.
Get Our Latest Stock Analysis on Metals Acquisition
Metals Acquisition Stock Performance
The company has a 50-day moving average of $12.03 and a 200-day moving average of $11.40.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Metals Acquisition in the first quarter valued at about $108,000. Kepos Capital LP acquired a new position in shares of Metals Acquisition in the third quarter valued at about $210,000. Sea Otter Advisors LLC acquired a new position in shares of Metals Acquisition in the fourth quarter valued at about $219,000. Cubist Systematic Strategies LLC acquired a new position in shares of Metals Acquisition in the third quarter valued at about $386,000. Finally, Deutsche Bank AG increased its holdings in shares of Metals Acquisition by 130.7% in the fourth quarter. Deutsche Bank AG now owns 100,487 shares of the company’s stock valued at $1,005,000 after purchasing an additional 56,931 shares during the period. 76.10% of the stock is owned by institutional investors and hedge funds.
About Metals Acquisition
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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