Bank of America Corp DE Acquires 34,454 Shares of Metals Acquisition Limited (NYSE:MTAL)

Bank of America Corp DE boosted its holdings in shares of Metals Acquisition Limited (NYSE:MTAL) by 95.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 70,389 shares of the company’s stock after buying an additional 34,454 shares during the quarter. Bank of America Corp DE’s holdings in Metals Acquisition were worth $748,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of MTAL. Glencore plc acquired a new position in Metals Acquisition in the 4th quarter valued at $106,200,000. American Century Companies Inc. boosted its holdings in Metals Acquisition by 58.5% during the fourth quarter. American Century Companies Inc. now owns 906,421 shares of the company’s stock valued at $9,626,000 after acquiring an additional 334,505 shares during the period. Northern Trust Corp grew its position in shares of Metals Acquisition by 4.0% in the fourth quarter. Northern Trust Corp now owns 339,081 shares of the company’s stock valued at $3,601,000 after purchasing an additional 13,164 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Metals Acquisition by 70.7% in the fourth quarter. JPMorgan Chase & Co. now owns 112,771 shares of the company’s stock valued at $1,198,000 after purchasing an additional 46,701 shares during the last quarter. Finally, Barclays PLC lifted its position in shares of Metals Acquisition by 14.6% during the 4th quarter. Barclays PLC now owns 82,780 shares of the company’s stock worth $879,000 after purchasing an additional 10,520 shares during the last quarter. 87.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. BMO Capital Markets restated a “market perform” rating and set a $12.25 target price (up previously from $11.00) on shares of Metals Acquisition in a research note on Tuesday, June 3rd. National Bank Financial lowered Metals Acquisition from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 30th. Finally, Scotiabank reissued a “sector perform” rating and issued a $13.00 price objective on shares of Metals Acquisition in a research report on Tuesday, May 27th.

Metals Acquisition Stock Performance

NYSE:MTAL opened at $12.44 on Monday. The firm’s 50-day moving average is $9.71 and its 200-day moving average is $10.52. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.69 and a current ratio of 0.84. Metals Acquisition Limited has a 52-week low of $7.69 and a 52-week high of $14.93.

Metals Acquisition 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.