MAC Copper Limited (NYSE:MTAL) Short Interest Up 465.7% in August

MAC Copper Limited (NYSE:MTAL) was the recipient of a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 1,171 shares, a growth of 465.7% from the August 15th total of 207 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average daily trading volume, of 84,058 shares, the days-to-cover ratio is presently 0.0 days.

MAC Copper Stock Performance

MAC Copper stock traded down $0.03 during mid-day trading on Friday, hitting $10.18. The company had a trading volume of 93,497 shares, compared to its average volume of 63,016. MAC Copper has a 1 year low of $10.00 and a 1 year high of $11.80. The business has a fifty day moving average of $10.20 and a 200 day moving average of $10.68.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Dark Forest Capital Management LP purchased a new position in shares of MAC Copper during the third quarter worth about $1,040,000. XTX Topco Ltd purchased a new stake in MAC Copper in the third quarter valued at approximately $898,000. Water Island Capital LLC boosted its holdings in shares of MAC Copper by 54.9% in the third quarter. Water Island Capital LLC now owns 103,254 shares of the company’s stock valued at $1,261,000 after acquiring an additional 36,586 shares during the period. Qube Research & Technologies Ltd boosted its holdings in shares of MAC Copper by 59.6% in the third quarter. Qube Research & Technologies Ltd now owns 776,649 shares of the company’s stock valued at $9,483,000 after acquiring an additional 290,145 shares during the period. Finally, Prelude Capital Management LLC purchased a new position in shares of MAC Copper during the third quarter worth approximately $873,000. 87.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded MAC Copper from a “sell (d-)” rating to a “sell (e)” rating in a report on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

About MAC Copper

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.