MAC Copper Limited’s (NYSE:MTAL) Lock-Up Period Will End on September 8th

MAC Copper’s (NYSE:MTAL) lock-up period will end on Tuesday, September 8th. MAC Copper had issued 20,000,000 shares in its public offering on March 12th. The total size of the offering was $200,000,000 based on an initial share price of $10.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the end of the lock-up period.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut MAC Copper from a “sell (d-)” rating to a “sell (e)” rating in a research note on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, MAC Copper has a consensus rating of “Moderate Buy”.

MAC Copper Trading Down 0.2%

Shares of MTAL opened at $10.20 on Thursday. MAC Copper has a 1 year low of $10.00 and a 1 year high of $11.80. The stock has a 50-day simple moving average of $10.20 and a 200-day simple moving average of $10.77.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its stake in MAC Copper by 56.2% during the second quarter. Russell Investments Group Ltd. now owns 6,108 shares of the company’s stock worth $74,000 after purchasing an additional 2,197 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in MAC Copper by 10,692.3% in the second quarter. EverSource Wealth Advisors LLC now owns 2,806 shares of the company’s stock valued at $34,000 after purchasing an additional 2,780 shares during the last quarter. Parallel Advisors LLC purchased a new position in MAC Copper in the third quarter valued at approximately $44,000. Tidal Investments LLC raised its holdings in MAC Copper by 18.8% during the second quarter. Tidal Investments LLC now owns 23,990 shares of the company’s stock worth $290,000 after purchasing an additional 3,788 shares in the last quarter. Finally, Creative Planning raised its holdings in MAC Copper by 15.0% during the third quarter. Creative Planning now owns 32,070 shares of the company’s stock worth $392,000 after purchasing an additional 4,184 shares in the last quarter. Hedge funds and other institutional investors own 87.47% of the company’s stock.

About MAC Copper

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.