Metals Acquisition (NYSE:MTAL) Trading Down 3.1% – Here’s Why

Metals Acquisition Limited (NYSE:MTAL)’s stock price dropped 3.1% during mid-day trading on Monday . The stock traded as low as $10.35 and last traded at $10.36. Approximately 202,928 shares changed hands during mid-day trading, a decline of 32% from the average daily volume of 297,743 shares. The stock had previously closed at $10.69.

Analyst Upgrades and Downgrades

Separately, Scotiabank reduced their price target on shares of Metals Acquisition from $16.00 to $14.50 and set a “sector outperform” rating for the company in a research note on Monday, January 6th.

Metals Acquisition Trading Down 2.9 %

The company has a fifty day simple moving average of $10.66 and a 200-day simple moving average of $11.58. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.84 and a quick ratio of 0.69.

Institutional Investors Weigh In On Metals Acquisition

A number of institutional investors have recently bought and sold shares of MTAL. Quarry LP acquired a new stake in Metals Acquisition during the third quarter valued at $34,000. Quadrant Capital Group LLC bought a new position in shares of Metals Acquisition in the fourth quarter valued at approximately $26,000. Quantbot Technologies LP bought a new stake in Metals Acquisition during the third quarter valued at about $46,000. Signaturefd LLC acquired a new stake in Metals Acquisition in the 4th quarter valued at approximately $36,000. Finally, FMR LLC acquired a new stake in shares of Metals Acquisition in the third quarter worth $107,000. 87.47% of the stock is currently owned by institutional investors and hedge funds.

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.