Bank of Montreal Can Takes Position in Metals Acquisition Limited (NYSE:MTAL)

Bank of Montreal Can acquired a new stake in Metals Acquisition Limited (NYSE:MTAL) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 439,642 shares of the company’s stock, valued at approximately $6,049,000. Bank of Montreal Can owned approximately 0.59% of Metals Acquisition at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Millennium Management LLC raised its stake in Metals Acquisition by 54.3% during the 2nd quarter. Millennium Management LLC now owns 1,919,918 shares of the company’s stock valued at $26,284,000 after buying an additional 675,340 shares during the last quarter. Regal Partners Ltd lifted its stake in shares of Metals Acquisition by 1.7% during the 3rd quarter. Regal Partners Ltd now owns 406,327 shares of the company’s stock valued at $5,628,000 after buying an additional 6,651 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Metals Acquisition in the second quarter valued at about $2,141,000. Rhumbline Advisers purchased a new stake in shares of Metals Acquisition during the second quarter worth about $938,000. Finally, Marshall Wace LLP lifted its holdings in Metals Acquisition by 57.4% in the 2nd quarter. Marshall Wace LLP now owns 24,126 shares of the company’s stock worth $330,000 after purchasing an additional 8,799 shares in the last quarter. 87.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Scotiabank reduced their target price on Metals Acquisition from $17.00 to $16.00 and set a “sector outperform” rating on the stock in a report on Monday, August 19th.

Metals Acquisition Price Performance

Shares of NYSE MTAL opened at $12.70 on Tuesday. 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 business’s 50 day moving average is $12.76 and its two-hundred day moving average is $12.76. Metals Acquisition Limited has a 1-year low of $9.75 and a 1-year high of $15.26.

Metals Acquisition 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.