Metals Acquisition (NYSE:MTAL) Rating Lowered to Market Perform at BMO Capital Markets

BMO Capital Markets downgraded shares of Metals Acquisition (NYSE:MTAL) from an outperform rating to a market perform rating in a report released on Tuesday morning, MarketBeat Ratings reports. BMO Capital Markets currently has $12.00 target price on the stock, down from their previous target price of $13.00.

Separately, Scotiabank initiated coverage on shares of Metals Acquisition in a research report on Monday, March 4th. They issued a sector outperform rating and a $14.50 price target for the company. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $13.58.

Metals Acquisition Trading Up 2.5 %

Shares of MTAL stock opened at $13.42 on Tuesday. Metals Acquisition has a 1-year low of $8.49 and a 1-year high of $14.49. The company has a current ratio of 0.31, a quick ratio of 0.23 and a debt-to-equity ratio of 1.45. The stock’s fifty day simple moving average is $13.25 and its 200-day simple moving average is $12.00.

Institutional Investors Weigh In On Metals Acquisition

Several institutional investors have recently made changes to their positions in MTAL. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund raised its position in Metals Acquisition by 8.3% during the fourth quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 3,572,728 shares of the company’s stock valued at $44,159,000 after acquiring an additional 272,727 shares in the last quarter. Platinum Investment Management Ltd. boosted its stake in Metals Acquisition by 9.8% during the 4th quarter. Platinum Investment Management Ltd. now owns 2,236,246 shares of the company’s stock valued at $27,640,000 after purchasing an additional 199,898 shares during the period. Sprott Inc. bought a new stake in shares of Metals Acquisition in the third quarter valued at approximately $17,970,000. Adage Capital Partners GP L.L.C. grew its stake in shares of Metals Acquisition by 10.4% in the third quarter. Adage Capital Partners GP L.L.C. now owns 687,139 shares of the company’s stock worth $8,232,000 after acquiring an additional 64,616 shares during the last quarter. Finally, CI Investments Inc. bought a new position in Metals Acquisition during the third quarter worth $6,676,000. 87.47% of the stock is currently owned by institutional investors and hedge funds.

Metals Acquisition Company 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.