Lifezone Metals Sees Unusually Large Options Volume (NYSE:LZM)

Lifezone Metals Limited (NYSE:LZM) was the recipient of unusually large options trading activity on Thursday. Stock investors bought 7,537 call options on the company. This is an increase of approximately 3,613% compared to the typical daily volume of 203 call options.

Lifezone Metals Trading Up 3.1%

Lifezone Metals stock traded up $0.12 during mid-day trading on Thursday, hitting $3.82. 490,310 shares of the company’s stock were exchanged, compared to its average volume of 486,601. Lifezone Metals has a fifty-two week low of $3.07 and a fifty-two week high of $6.40. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $326.31 million, a P/E ratio of -0.82 and a beta of 1.22. The company’s 50 day simple moving average is $4.73 and its 200-day simple moving average is $4.55.

Lifezone Metals (NYSE:LZM) last announced its earnings results on Friday, March 20th. The company reported ($0.04) EPS for the quarter. The business had revenue of $0.37 million for the quarter. On average, equities analysts anticipate that Lifezone Metals will post -0.29 earnings per share for the current year.

Institutional Investors Weigh In On Lifezone Metals

Several institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers grew its position in Lifezone Metals by 22.9% in the first quarter. Rhumbline Advisers now owns 44,971 shares of the company’s stock valued at $188,000 after purchasing an additional 8,376 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Lifezone Metals by 200.9% during the second quarter. Russell Investments Group Ltd. now owns 201,680 shares of the company’s stock worth $831,000 after acquiring an additional 134,655 shares in the last quarter. Invesco Ltd. raised its holdings in Lifezone Metals by 8.8% during the second quarter. Invesco Ltd. now owns 990,623 shares of the company’s stock worth $4,081,000 after acquiring an additional 80,093 shares in the last quarter. Jane Street Group LLC acquired a new position in Lifezone Metals during the second quarter valued at approximately $136,000. Finally, JPMorgan Chase & Co. boosted its position in Lifezone Metals by 50.1% during the third quarter. JPMorgan Chase & Co. now owns 19,826 shares of the company’s stock valued at $109,000 after purchasing an additional 6,619 shares during the last quarter.

Analyst Ratings Changes

A number of brokerages have weighed in on LZM. Wall Street Zen raised shares of Lifezone Metals from a “sell” rating to a “hold” rating in a research note on Saturday, May 30th. Zacks Research raised Lifezone Metals to a “hold” rating in a research note on Wednesday, May 6th. Finally, BTIG Research restated a “buy” rating and set a $7.00 target price on shares of Lifezone Metals in a research report on Friday, March 20th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Lifezone Metals has an average rating of “Hold” and a consensus price target of $7.00.

Lifezone Metals Company Profile

Lifezone Metals Limited engages in the extraction and refining of metals. It supplies lower-carbon and sulfur dioxide emission metals to the battery storage, EV, and hydrogen markets. The company’s products include nickel, copper, and cobalt. Its flagship project is the Kabanga nickel project in North-West Tanzania. The company is based in Ramsey, Isle of Man.