Metals Acquisition Limited (NYSE:MTAL) Receives $13.92 Average PT from Brokerages

Metals Acquisition Limited (NYSE:MTAL) has received a consensus rating of “Buy” from the five ratings firms that are presently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a buy recommendation. The average 1 year price target among analysts that have covered the stock in the last year is $13.92.

Separately, Scotiabank began coverage on Metals Acquisition in a research note on Monday, March 4th. They set a “sector outperform” rating and a $14.50 price target for the company.

Institutional Trading of Metals Acquisition

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund grew its stake in Metals Acquisition by 8.3% in the 4th 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 worth $44,159,000 after acquiring an additional 272,727 shares during the period. Sprott Inc. acquired a new stake in shares of Metals Acquisition during the third quarter worth $17,970,000. Adage Capital Partners GP L.L.C. grew its position in shares of Metals Acquisition by 10.4% in the third 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. acquired a new position in Metals Acquisition in the third quarter valued at $6,676,000. Finally, Kepos Capital LP purchased a new position in Metals Acquisition during the third quarter worth about $210,000. Hedge funds and other institutional investors own 87.47% of the company’s stock.

Metals Acquisition Stock Up 2.0 %

MTAL opened at $13.48 on Tuesday. The company has a current ratio of 0.31, a quick ratio of 0.23 and a debt-to-equity ratio of 1.45. Metals Acquisition has a one year low of $8.49 and a one year high of $14.11. The business’s fifty day moving average is $12.78 and its two-hundred day moving average is $11.72.

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.