Scotiabank Equities Analysts Cut Earnings Estimates for MTAL

Metals Acquisition Limited (NYSE:MTAL) – Equities researchers at Scotiabank lowered their FY2024 earnings per share estimates for Metals Acquisition in a research report issued on Wednesday, January 8th. Scotiabank analyst E. Winmill now anticipates that the company will earn $0.17 per share for the year, down from their previous forecast of $0.25. Scotiabank has a “Sector Outperform” rating and a $14.50 price objective on the stock. The consensus estimate for Metals Acquisition’s current full-year earnings is $0.33 per share. Scotiabank also issued estimates for Metals Acquisition’s FY2025 earnings at $1.19 EPS.

Metals Acquisition Stock Down 2.1 %

Shares of NYSE:MTAL opened at $10.20 on Thursday. Metals Acquisition has a twelve month low of $9.89 and a twelve month high of $15.26. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.69 and a current ratio of 0.84. The business has a fifty day moving average of $11.80 and a 200-day moving average of $12.24.

Institutional Trading of Metals Acquisition

A number of hedge funds and other institutional investors have recently made changes to their positions in MTAL. Barclays PLC boosted its holdings in Metals Acquisition by 286.6% in the third quarter. Barclays PLC now owns 72,260 shares of the company’s stock valued at $1,000,000 after acquiring an additional 53,567 shares during the last quarter. Bank of New York Mellon Corp bought a new position in Metals Acquisition in the second quarter valued at about $2,141,000. State Street Corp boosted its holdings in Metals Acquisition by 28.7% in the third quarter. State Street Corp now owns 698,943 shares of the company’s stock valued at $9,680,000 after acquiring an additional 156,022 shares during the last quarter. Creative Planning bought a new position in Metals Acquisition in the third quarter valued at about $190,000. Finally, Amalgamated Bank bought a new position in Metals Acquisition in the second quarter valued at about $26,000. 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.