Zacks Research Upgrades Lifezone Metals (NYSE:LZM) to Hold

Lifezone Metals (NYSE:LZM) was upgraded by equities research analysts at Zacks Research to a “hold” rating in a report released on Wednesday,Zacks.com reports.

Separately, BTIG Research reiterated a “buy” rating and issued a $7.00 price objective on shares of Lifezone Metals in a report on Friday, March 20th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Lifezone Metals currently has a consensus rating of “Hold” and a consensus price target of $7.00.

Lifezone Metals Price Performance

LZM opened at $5.65 on Wednesday. The stock has a 50-day moving average price of $4.25 and a 200-day moving average price of $4.46. Lifezone Metals has a 12-month low of $3.06 and a 12-month high of $6.40. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $483.47 million, a P/E ratio of -1.21 and a beta of 1.26.

Lifezone Metals (NYSE:LZM) last posted its quarterly earnings data on Friday, March 20th. The company reported ($0.04) earnings per share (EPS) for the quarter. The firm had revenue of $0.37 million during the quarter. Equities analysts predict that Lifezone Metals will post -0.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lifezone Metals

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Invesco Ltd. lifted its stake in shares of Lifezone Metals by 90.9% in the 4th quarter. Invesco Ltd. now owns 2,840,018 shares of the company’s stock valued at $12,127,000 after acquiring an additional 1,352,119 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of Lifezone Metals by 1.9% in the 1st quarter. Jennison Associates LLC now owns 789,674 shares of the company’s stock valued at $2,653,000 after acquiring an additional 14,506 shares during the last quarter. Creative Planning lifted its stake in shares of Lifezone Metals by 260.7% in the 3rd quarter. Creative Planning now owns 392,957 shares of the company’s stock valued at $2,153,000 after acquiring an additional 284,006 shares during the last quarter. Alps Advisors Inc. lifted its stake in shares of Lifezone Metals by 135.2% in the 4th quarter. Alps Advisors Inc. now owns 306,780 shares of the company’s stock valued at $1,310,000 after acquiring an additional 176,338 shares during the last quarter. Finally, Marshall Wace LLP lifted its stake in shares of Lifezone Metals by 119.1% in the 4th quarter. Marshall Wace LLP now owns 303,600 shares of the company’s stock valued at $1,296,000 after acquiring an additional 165,035 shares during the last quarter.

About Lifezone Metals

Lifezone Metals Limited engages in the extraction and refining of metals. It supplies lower-carbon and sulfur dioxide emission metals to the battery storage, EV, and hydrogen markets. The company’s products include nickel, copper, and cobalt. Its flagship project is the Kabanga nickel project in North-West Tanzania. The company is based in Ramsey, Isle of Man.