MTAL Q3 EPS Forecast Cut by National Bank Financial

Metals Acquisition Limited (NYSE:MTAL) – Investment analysts at National Bank Financial reduced their Q3 2024 EPS estimates for shares of Metals Acquisition in a research report issued to clients and investors on Monday, October 14th. National Bank Financial analyst S. Nagle now forecasts that the company will earn $0.05 per share for the quarter, down from their prior forecast of $0.06. The consensus estimate for Metals Acquisition’s current full-year earnings is $0.21 per share. National Bank Financial also issued estimates for Metals Acquisition’s FY2024 earnings at $0.32 EPS and FY2025 earnings at $0.80 EPS.

MTAL has been the topic of a number of other reports. BMO Capital Markets increased their price objective on shares of Metals Acquisition from $13.00 to $15.00 and gave the company a “market perform” rating in a research note on Tuesday, July 23rd. Scotiabank reduced their target price on shares of 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 $12.42 on Thursday. Metals Acquisition has a 52 week low of $9.50 and a 52 week high of $15.26. The company’s 50-day moving average price is $12.11 and its 200 day moving average price is $12.95. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.84 and a quick ratio of 0.69.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Creative Planning purchased a new position in shares of Metals Acquisition during the 3rd quarter worth about $190,000. SG Americas Securities LLC acquired a new stake in Metals Acquisition during the 3rd quarter worth approximately $246,000. The Manufacturers Life Insurance Company acquired a new stake in Metals Acquisition during the 2nd quarter worth approximately $278,000. Millennium Management LLC increased its position in Metals Acquisition by 54.3% during the 2nd quarter. Millennium Management LLC now owns 1,919,918 shares of the company’s stock worth $26,284,000 after purchasing an additional 675,340 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in Metals Acquisition during the 2nd quarter worth approximately $205,000. 87.47% of the stock is currently owned by hedge funds and other institutional investors.

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.