Metals Acquisition (NYSE:MTAL) Sees Large Volume Increase

Metals Acquisition Limited (NYSE:MTAL) shares saw unusually-high trading volume on Monday . Approximately 53,515 shares changed hands during trading, an increase of 39% from the previous session’s volume of 38,536 shares.The stock last traded at $13.79 and had previously closed at $13.51.

Wall Street Analysts Forecast Growth

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

Metals Acquisition Price Performance

The company’s 50 day moving average is $12.67 and its two-hundred day moving average is $11.65. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.31 and a quick ratio of 0.23.

Hedge Funds Weigh In On Metals Acquisition

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Metals Acquisition in the 1st quarter worth about $108,000. Kepos Capital LP bought a new stake in Metals Acquisition during the third quarter worth about $210,000. Sea Otter Advisors LLC acquired a new stake in shares of Metals Acquisition during the fourth quarter worth approximately $219,000. Cubist Systematic Strategies LLC bought a new position in shares of Metals Acquisition in the third quarter valued at approximately $386,000. Finally, Tuttle Capital Management LLC acquired a new position in shares of Metals Acquisition in the 1st quarter worth approximately $517,000. 87.47% of the stock is 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.