Metals Acquisition (NYSE:MTAL) Hits New 12-Month Low – Here’s Why

Shares of Metals Acquisition Limited (NYSE:MTAL) reached a new 52-week low on Monday . The company traded as low as $9.45 and last traded at $9.54, with a volume of 113013 shares traded. The stock had previously closed at $9.54.

Wall Street Analysts Forecast Growth

Separately, Scotiabank reduced their target price on 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 Stock Performance

The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.69 and a current ratio of 0.84. The firm has a 50 day moving average price of $10.63 and a 200 day moving average price of $11.62.

Hedge Funds Weigh In On Metals Acquisition

Institutional investors have recently made changes to their positions in the company. Quadrant Capital Group LLC purchased a new position in shares of Metals Acquisition during the fourth quarter valued at $26,000. Quarry LP purchased a new position in shares of Metals Acquisition during the third quarter valued at $34,000. Signaturefd LLC bought a new stake in Metals Acquisition during the fourth quarter valued at about $36,000. Quantbot Technologies LP bought a new stake in Metals Acquisition during the third quarter valued at about $46,000. Finally, FMR LLC bought a new stake in Metals Acquisition during the third quarter valued at about $107,000. Hedge funds and other institutional investors own 87.47% of the company’s stock.

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.