Metals Acquisition Limited (NYSE:MTAL) to Post Q1 2024 Earnings of $0.22 Per Share, National Bank Financial Forecasts

Metals Acquisition Limited (NYSE:MTAL) – Research analysts at National Bank Financial issued their Q1 2024 earnings estimates for Metals Acquisition in a research note issued on Thursday, April 18th. National Bank Financial analyst S. Nagle forecasts that the company will earn $0.22 per share for the quarter. The consensus estimate for Metals Acquisition’s current full-year earnings is ($0.27) per share.

Separately, Scotiabank started coverage on Metals Acquisition in a research note on Monday, March 4th. They set a “sector outperform” rating and a $14.50 price objective on the stock. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Metals Acquisition presently has an average rating of “Buy” and a consensus target price of $13.92.

Metals Acquisition Stock Up 1.8 %

Shares of Metals Acquisition stock opened at $13.08 on Monday. Metals Acquisition has a 1 year low of $8.49 and a 1 year high of $14.11. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.23 and a current ratio of 0.31. The business has a 50 day moving average price of $12.71 and a 200 day moving average price of $11.68.

Hedge Funds Weigh In On Metals Acquisition

Hedge funds have recently made changes to their positions in the stock. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund increased its holdings in Metals Acquisition by 8.3% in the 4th quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 3,572,728 shares of the company’s stock valued at $44,159,000 after purchasing an additional 272,727 shares in the last quarter. Platinum Investment Management Ltd. raised its stake in shares of Metals Acquisition by 9.8% during the fourth quarter. Platinum Investment Management Ltd. now owns 2,236,246 shares of the company’s stock valued at $27,640,000 after purchasing an additional 199,898 shares during the period. Sprott Inc. acquired a new position in shares of Metals Acquisition during the third quarter worth $17,970,000. Adage Capital Partners GP L.L.C. boosted its stake in shares of Metals Acquisition by 10.4% in the third quarter. Adage Capital Partners GP L.L.C. now owns 687,139 shares of the company’s stock valued at $8,232,000 after purchasing an additional 64,616 shares during the period. Finally, CI Investments Inc. acquired a new stake in Metals Acquisition during the 3rd quarter valued at $6,676,000. Institutional investors and hedge funds own 87.47% of the company’s stock.

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.