Scotiabank Issues Pessimistic Forecast for Metals Acquisition (NYSE:MTAL) Stock Price

Metals Acquisition (NYSE:MTAL) had its price objective trimmed by Scotiabank from $16.00 to $14.50 in a research note published on Monday,Benzinga reports. The brokerage currently has a sector outperform rating on the stock.

Metals Acquisition Trading Down 1.0 %

Shares of MTAL opened at $10.50 on Monday. The company has a current ratio of 0.84, a quick ratio of 0.69 and a debt-to-equity ratio of 0.85. Metals Acquisition has a one year low of $9.89 and a one year high of $15.26. The company’s fifty day moving average price is $12.00 and its 200 day moving average price is $12.32.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC grew its stake in shares of Metals Acquisition by 54.3% in the second quarter. Millennium Management LLC now owns 1,919,918 shares of the company’s stock worth $26,284,000 after acquiring an additional 675,340 shares during the last quarter. Wellington Management Group LLP grew its position in Metals Acquisition by 799.1% in the 3rd 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 last quarter. State Street Corp grew its position in Metals Acquisition by 28.7% in the 3rd quarter. State Street Corp now owns 698,943 shares of the company’s stock worth $9,680,000 after purchasing an additional 156,022 shares during the last quarter. Bank of Montreal Can bought a new position in shares of Metals Acquisition during the 3rd quarter worth about $6,049,000. Finally, Regal Partners Ltd raised its position in shares of Metals Acquisition by 1.7% during the third 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 during the last quarter. 87.47% of the stock is 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.