Metals Acquisition (NYSE:MTAL) Sets New 1-Year Low – Should You Sell?

Shares of Metals Acquisition Limited (NYSE:MTAL) reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $9.15 and last traded at $10.50, with a volume of 409 shares trading hands. The stock had previously closed at $10.75.

Analyst Upgrades and Downgrades

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

Metals Acquisition Trading Down 2.7 %

The company has a fifty day moving average of $10.65 and a 200 day moving average of $11.56. The company has a quick ratio of 0.69, a current ratio of 0.84 and a debt-to-equity ratio of 0.85.

Institutional Investors Weigh In On Metals Acquisition

Hedge funds and other institutional investors have recently modified their holdings of the company. Barclays PLC lifted its holdings in shares of Metals Acquisition by 286.6% in the 3rd quarter. Barclays PLC now owns 72,260 shares of the company’s stock worth $1,000,000 after purchasing an additional 53,567 shares in the last quarter. State Street Corp lifted its stake in shares of 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 buying an additional 156,022 shares in the last quarter. FMR LLC bought a new position in shares of Metals Acquisition in the third quarter valued at $107,000. Wellington Management Group LLP grew its holdings in shares of Metals Acquisition by 799.1% during the third quarter. Wellington Management Group LLP now owns 909,588 shares of the company’s stock valued at $12,598,000 after buying an additional 808,418 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in shares of Metals Acquisition by 12.6% during the fourth quarter. SG Americas Securities LLC now owns 19,959 shares of the company’s stock worth $212,000 after acquiring an additional 2,232 shares in the last quarter. Institutional investors own 87.47% of the company’s stock.

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.