Metals Acquisition (NYSE:MTAL) Shares Gap Up – Here’s Why

Metals Acquisition Limited (NYSE:MTAL) shares gapped up before the market opened on Wednesday . The stock had previously closed at $10.57, but opened at $10.88. Metals Acquisition shares last traded at $10.54, with a volume of 48,085 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Scotiabank dropped their target price on shares of Metals Acquisition from $16.00 to $14.50 and set a “sector outperform” rating on the stock in a report on Monday, January 6th.

Metals Acquisition Price Performance

The business has a 50-day moving average of $10.66 and a 200 day moving average of $11.56. The company has a current ratio of 0.84, a quick ratio of 0.69 and a debt-to-equity ratio of 0.85.

Institutional Investors Weigh In On Metals Acquisition

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP bought a new stake in Metals Acquisition during the third quarter valued at approximately $34,000. Quadrant Capital Group LLC purchased a new position in shares of Metals Acquisition during the 4th quarter worth $26,000. Quantbot Technologies LP bought a new stake in shares of Metals Acquisition during the 3rd quarter valued at $46,000. Signaturefd LLC purchased a new stake in shares of Metals Acquisition in the 4th quarter worth $36,000. Finally, FMR LLC bought a new position in Metals Acquisition in the 3rd quarter worth $107,000. Hedge funds and other institutional investors own 87.47% of the company’s stock.

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.