Metals Acquisition (NYSE:MTAL) Sees Large Volume Increase

Metals Acquisition Limited (NYSE:MTAL) saw unusually-high trading volume on Wednesday . Approximately 43,711 shares changed hands during mid-day trading, an increase of 50% from the previous session’s volume of 29,150 shares.The stock last traded at $13.00 and had previously closed at $13.00.

Analyst Upgrades and Downgrades

MTAL has been the topic of a number of research reports. National Bank Financial initiated coverage on shares of Metals Acquisition in a research note on Thursday, December 14th. They issued an “outperform” rating and a $14.00 target price on the stock. Scotiabank began coverage on shares of Metals Acquisition in a research note on Monday, March 4th. They set a “sector outperform” rating and a $14.50 price target on the stock. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Metals Acquisition currently has an average rating of “Buy” and an average target price of $13.92.

Metals Acquisition Trading Up 3.0 %

The company has a current ratio of 0.31, a quick ratio of 0.23 and a debt-to-equity ratio of 1.45. The company’s 50 day moving average is $12.52 and its 200-day moving average is $11.54.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MTAL. BlackRock Inc. acquired a new position in Metals Acquisition during the 2nd quarter worth $49,594,000. Sprott Inc. acquired a new position in Metals Acquisition during the 3rd quarter worth $17,970,000. CI Investments Inc. acquired a new position in Metals Acquisition during the 3rd quarter worth $6,676,000. Berkley W R Corp grew its holdings in Metals Acquisition by 455.8% during the 1st quarter. Berkley W R Corp now owns 412,302 shares of the company’s stock worth $4,214,000 after acquiring an additional 338,121 shares in the last quarter. Finally, Regal Partners Ltd acquired a new position in Metals Acquisition during the 2nd quarter worth $3,090,000. 87.47% of the stock is owned by institutional investors and hedge funds.

Metals Acquisition Company Profile

Metals Acquisition Limited focuses on operating and acquiring metals and mining businesses. The company operates the CSA copper mine in Cobar, Australia. Metals Acquisition Limited is headquartered in Saint Helier, Jersey.