MAC Copper Limited (NYSE:MTAL) Sees Large Increase in Short Interest

MAC Copper Limited (NYSE:MTAL – Get Free Report) saw a large increase in short interest in the month of October. As of October 30th, there was short interest totaling 974 shares, an increase of 5,311.1% from the October 15th total of 18 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average daily volume of 4,841 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Trading of MAC Copper

A hedge fund recently bought a new position in MAC Copper stock. First Trust Capital Management L.P. purchased a new stake in MAC Copper Limited (NYSE:MTAL – Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 351,270 shares of the company’s stock, valued at approximately $3,569,000. First Trust Capital Management L.P. owned 1.15% of MAC Copper as of its most recent SEC filing. 87.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered MAC Copper from a “sell (d-)” rating to a “sell (e)” rating in a research report on Friday, August 14th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat, MAC Copper has an average rating of “Sell”.

View Our Latest Stock Analysis on MTAL

MAC Copper Stock Down 0.4%

NYSE MTAL opened at $10.10 on Wednesday. The stock’s 50-day moving average is $10.15 and its 200-day moving average is $10.72. MAC Copper has a one year low of $9.95 and a one year high of $11.80.

MAC Copper Company Profile

(Get Free Report)

MAC Copper Limited is a mineral exploration and development company focused on identifying and advancing copper projects. The company’s activities include exploration, geological evaluation and assessment of potential copper resources. MAC Copper has focused its efforts on copper opportunities in Colombia and other prospective areas of the Americas. Its portfolio is centered on early-stage exploration and project development rather than the production or sale of refined metals. The company is listed on the New York Stock Exchange under the symbol MTAL.

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