Research Analysts Offer Predictions for Metals Acquisition Limited’s FY2024 Earnings (NYSE:MTAL)

Metals Acquisition Limited (NYSE:MTAL) – Stock analysts at National Bank Financial dropped their FY2024 EPS estimates for shares of Metals Acquisition in a research note issued on Tuesday, April 23rd. National Bank Financial analyst S. Nagle now forecasts that the company will post earnings per share of $0.95 for the year, down from their prior estimate of $1.11. The consensus estimate for Metals Acquisition’s current full-year earnings is ($0.27) per share. National Bank Financial also issued estimates for Metals Acquisition’s FY2025 earnings at $0.91 EPS.

Separately, Scotiabank started coverage on Metals Acquisition in a research report on Monday, March 4th. They set a “sector outperform” rating and a $14.50 price target for the company. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $13.92.

Metals Acquisition Price Performance

NYSE:MTAL opened at $13.89 on Thursday. The stock has a 50 day moving average of $12.82 and a two-hundred day moving average of $11.74. Metals Acquisition has a 12 month low of $8.49 and a 12 month high of $14.11. The company has a current ratio of 0.31, a quick ratio of 0.23 and a debt-to-equity ratio of 1.45.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Tuttle Capital Management LLC purchased a new position in Metals Acquisition in the 1st quarter worth approximately $517,000. Platinum Investment Management Ltd. lifted its stake in Metals Acquisition by 9.8% in the 4th quarter. Platinum Investment Management Ltd. now owns 2,236,246 shares of the company’s stock worth $27,640,000 after purchasing an additional 199,898 shares in the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund lifted 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 purchasing an additional 272,727 shares in the last quarter. Sprott Inc. purchased a new position in Metals Acquisition in the 3rd quarter worth approximately $17,970,000. Finally, Regal Partners Ltd increased its holdings in shares of Metals Acquisition by 1.2% during the 3rd quarter. Regal Partners Ltd now owns 303,705 shares of the company’s stock worth $3,638,000 after buying an additional 3,705 shares during the last quarter. 87.47% of the stock is owned by hedge funds and other institutional investors.

Metals Acquisition Company Profile

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.