Scotiabank Predicts Weaker Earnings for Metals Acquisition

Metals Acquisition Limited (NYSE:MTAL) – Stock analysts at Scotiabank cut their FY2024 earnings estimates for shares of Metals Acquisition in a report released on Wednesday, January 8th. Scotiabank analyst E. Winmill now forecasts that the company will post earnings of $0.17 per share for the year, down from their previous forecast of $0.25. Scotiabank currently has a “Sector Outperform” rating and a $14.50 target price on the stock. The consensus estimate for Metals Acquisition’s current full-year earnings is $0.33 per share. Scotiabank also issued estimates for Metals Acquisition’s FY2025 earnings at $1.19 EPS.

Metals Acquisition Stock Performance

Metals Acquisition stock opened at $10.44 on Thursday. The company has a current ratio of 0.84, a quick ratio of 0.69 and a debt-to-equity ratio of 0.85. The stock has a 50-day simple moving average of $11.84 and a 200 day simple moving average of $12.26. Metals Acquisition has a 52 week low of $9.89 and a 52 week high of $15.26.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MTAL. Bank of New York Mellon Corp acquired a new position in Metals Acquisition in the 2nd quarter valued at about $2,141,000. Rhumbline Advisers acquired a new position in shares of Metals Acquisition in the second quarter valued at approximately $938,000. Amalgamated Bank bought a new position in shares of Metals Acquisition during the second quarter worth approximately $26,000. Marshall Wace LLP lifted its holdings in Metals Acquisition by 57.4% during 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 during the last quarter. Finally, Squarepoint Ops LLC bought a new stake in Metals Acquisition in the 2nd quarter valued at $205,000. 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.