Metals Acquisition (NYSE:MTAL) Reaches New 1-Year Low – Here’s Why

Metals Acquisition Limited (NYSE:MTAL)’s stock price reached a new 52-week low during trading on Tuesday . The stock traded as low as $9.30 and last traded at $9.32, with a volume of 133156 shares trading hands. The stock had previously closed at $9.54.

Analyst Ratings Changes

Separately, Scotiabank cut 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 Price Performance

The company has a debt-to-equity ratio of 0.85, a current ratio of 0.84 and a quick ratio of 0.69. The stock has a fifty day moving average price of $10.54 and a 200 day moving average price of $11.54.

Institutional Investors Weigh In On Metals Acquisition

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Glencore plc purchased a new position in Metals Acquisition during the fourth quarter valued at approximately $106,200,000. SailingStone Capital Partners LLC boosted its holdings in Metals Acquisition by 3.9% in the 4th quarter. SailingStone Capital Partners LLC now owns 2,633,391 shares of the company’s stock valued at $27,967,000 after purchasing an additional 98,925 shares during the period. Millennium Management LLC grew its position in shares of Metals Acquisition by 11.2% during the 4th quarter. Millennium Management LLC now owns 2,028,073 shares of the company’s stock valued at $21,538,000 after purchasing an additional 204,439 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Metals Acquisition by 11.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,865,422 shares of the company’s stock worth $19,811,000 after purchasing an additional 194,813 shares during the period. Finally, Wellington Management Group LLP increased its holdings in shares of Metals Acquisition by 799.1% in the third quarter. Wellington Management Group LLP now owns 909,588 shares of the company’s stock worth $12,598,000 after purchasing an additional 808,418 shares during the period. 87.47% of the stock is currently owned by institutional investors.

About Metals Acquisition

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.