MAC Copper Limited (NYSE:MTAL) Short Interest Down 42.5% in June

MAC Copper Limited (NYSE:MTAL) was the target of a large drop in short interest in the month of June. As of June 30th, there was short interest totaling 1,671 shares, a drop of 42.5% from the June 15th total of 2,905 shares. Based on an average trading volume of 15,999 shares, the short-interest ratio is presently 0.1 days. Approximately 0.0% of the company’s shares are short sold.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC boosted its position in shares of MAC Copper by 10,692.3% in the second quarter. EverSource Wealth Advisors LLC now owns 2,806 shares of the company’s stock worth $34,000 after buying an additional 2,780 shares during the period. Parallel Advisors LLC purchased a new stake in shares of MAC Copper during the 3rd quarter valued at about $44,000. Russell Investments Group Ltd. raised its holdings in shares of MAC Copper by 56.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 6,108 shares of the company’s stock valued at $74,000 after buying an additional 2,197 shares during the period. Legal & General Group Plc raised its holdings in shares of MAC Copper by 135.5% during the 2nd quarter. Legal & General Group Plc now owns 11,661 shares of the company’s stock valued at $141,000 after buying an additional 6,709 shares during the period. Finally, Orion Porfolio Solutions LLC acquired a new position in MAC Copper during the 3rd quarter worth approximately $159,000. Institutional investors and hedge funds own 87.47% of the company’s stock.

MAC Copper Stock Performance

Shares of NYSE:MTAL traded down $0.04 during midday trading on Thursday, hitting $10.19. 10,383 shares of the company’s stock traded hands, compared to its average volume of 26,302. The firm’s fifty day moving average price is $10.18 and its two-hundred day moving average price is $11.25. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.45 and a current ratio of 0.58. MAC Copper has a twelve month low of $10.00 and a twelve month high of $11.80.

MAC Copper 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.