Metalla Royalty & Streaming (NYSEAMERICAN:MTA) Shares Down 8.5% – Here’s Why

Shares of Metalla Royalty & Streaming Ltd. (NYSEAMERICAN:MTA) dropped 8.5% on Friday . The stock traded as low as $6.80 and last traded at $6.81. Approximately 471,464 shares traded hands during trading, an increase of 22% from the average daily volume of 384,907 shares. The stock had previously closed at $7.44.

Analysts Set New Price Targets

Separately, Scotiabank reiterated a “sector perform” rating on shares of Metalla Royalty & Streaming in a research report on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $9.00.

Metalla Royalty & Streaming Stock Down 8.5%

The company has a debt-to-equity ratio of 0.05, a current ratio of 2.41 and a quick ratio of 2.41. The company has a market cap of $636.33 million, a P/E ratio of -170.25 and a beta of 1.28. The stock has a 50-day moving average of $7.12 and a 200 day moving average of $7.49.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC increased its position in shares of Metalla Royalty & Streaming by 210.2% in the first quarter. Renaissance Technologies LLC now owns 451,948 shares of the company’s stock worth $2,996,000 after purchasing an additional 306,248 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of Metalla Royalty & Streaming by 50.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 254,304 shares of the company’s stock worth $1,641,000 after purchasing an additional 85,201 shares during the period. Walleye Capital LLC increased its position in shares of Metalla Royalty & Streaming by 90.8% in the first quarter. Walleye Capital LLC now owns 67,603 shares of the company’s stock worth $448,000 after purchasing an additional 32,164 shares during the period. Cetera Investment Advisers increased its position in shares of Metalla Royalty & Streaming by 23.8% in the first quarter. Cetera Investment Advisers now owns 36,748 shares of the company’s stock worth $244,000 after purchasing an additional 7,067 shares during the period. Finally, PFG Investments LLC increased its position in shares of Metalla Royalty & Streaming by 19.0% in the first quarter. PFG Investments LLC now owns 14,170 shares of the company’s stock worth $94,000 after purchasing an additional 2,260 shares during the period. Institutional investors own 17.82% of the company’s stock.

About Metalla Royalty & Streaming

Metalla Royalty & Streaming Ltd. is a Canada?based precious metals royalty and streaming company focused on acquiring and managing royalties and streams on mineral properties. Headquartered in Vancouver, British Columbia, the firm provides financing to mining operators by purchasing royalty and stream interests that grant it a share of future metal production or revenues. These non?dilutive arrangements enable Metalla to participate in the upside of mining projects without the operational risks associated with direct mine ownership.

The company’s portfolio spans a broad range of precious and battery metals, including gold, silver, copper, nickel and cobalt.