MTAL FY2024 EPS Increased by National Bank Financial

Metals Acquisition Limited (NYSE:MTAL) – Stock analysts at National Bank Financial upped their FY2024 earnings per share estimates for shares of Metals Acquisition in a report issued on Tuesday, October 22nd. National Bank Financial analyst S. Nagle now expects that the company will earn $0.41 per share for the year, up from their previous forecast of $0.32. The consensus estimate for Metals Acquisition’s current full-year earnings is $0.28 per share. National Bank Financial also issued estimates for Metals Acquisition’s Q1 2025 earnings at $0.15 EPS.

A number of other research firms also recently commented on MTAL. BMO Capital Markets lifted their target price on Metals Acquisition from $13.00 to $15.00 and gave the stock a “market perform” rating in a report on Tuesday, July 23rd. Scotiabank decreased their price objective on shares of Metals Acquisition from $17.00 to $16.00 and set a “sector outperform” rating for the company in a research note on Monday, August 19th.

Metals Acquisition Stock Performance

Shares of MTAL opened at $12.47 on Thursday. The stock has a 50-day moving average of $12.17 and a two-hundred day moving average of $12.92. The company has a quick ratio of 0.69, a current ratio of 0.84 and a debt-to-equity ratio of 0.85. Metals Acquisition has a one year low of $9.50 and a one year high of $15.26.

Institutional Trading of Metals Acquisition

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp acquired a new stake in shares of Metals Acquisition during the 2nd quarter worth approximately $2,141,000. Amalgamated Bank purchased a new stake in Metals Acquisition during the second quarter worth $26,000. Millennium Management LLC grew its position in Metals Acquisition by 54.3% during the second 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 period. SG Americas Securities LLC purchased a new position in Metals Acquisition in the third quarter valued at $246,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Metals Acquisition in the second quarter worth about $205,000. 87.47% of the stock is owned by institutional investors and hedge funds.

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.