Moore Capital Management LP Reduces Stake in Metals Acquisition Limited (NYSE:MTAL)

Moore Capital Management LP lowered its stake in Metals Acquisition Limited (NYSE:MTAL) by 11.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 201,050 shares of the company’s stock after selling 25,945 shares during the period. Moore Capital Management LP owned approximately 0.27% of Metals Acquisition worth $2,135,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Deutsche Bank AG lifted its stake in Metals Acquisition by 52.7% in the fourth quarter. Deutsche Bank AG now owns 52,207 shares of the company’s stock worth $554,000 after purchasing an additional 18,028 shares during the last quarter. CastleKnight Management LP lifted its stake in Metals Acquisition by 16.2% in the fourth quarter. CastleKnight Management LP now owns 100,200 shares of the company’s stock worth $1,064,000 after purchasing an additional 14,000 shares during the last quarter. Bank of America Corp DE lifted its stake in Metals Acquisition by 95.9% in the fourth quarter. Bank of America Corp DE now owns 70,389 shares of the company’s stock worth $748,000 after purchasing an additional 34,454 shares during the last quarter. Glencore plc bought a new stake in Metals Acquisition in the fourth quarter worth about $106,200,000. Finally, Northern Trust Corp lifted its stake in Metals Acquisition by 4.0% in the fourth quarter. Northern Trust Corp now owns 339,081 shares of the company’s stock worth $3,601,000 after purchasing an additional 13,164 shares during the last quarter. Hedge funds and other institutional investors own 87.47% of the company’s stock.

Metals Acquisition Trading Up 2.4%

Metals Acquisition stock opened at $9.84 on Tuesday. The company has a 50 day moving average price of $9.39 and a 200-day moving average price of $10.70. 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 Limited has a fifty-two week low of $7.69 and a fifty-two week high of $15.26.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on MTAL shares. BMO Capital Markets started coverage on shares of Metals Acquisition in a research note on Wednesday, April 16th. They issued an “outperform” rating and a $11.00 price objective for the company. National Bank Financial downgraded shares of Metals Acquisition from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 30th.

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.