Metals Acquisition (NYSE:MTAL) Sets New 52-Week Low – Should You Sell?

Metals Acquisition Limited (NYSE:MTAL)’s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $9.70 and last traded at $9.70, with a volume of 425 shares traded. The stock had previously closed at $10.17.

Analyst Ratings Changes

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

Metals Acquisition Stock Down 0.6 %

The company has a current ratio of 0.84, a quick ratio of 0.69 and a debt-to-equity ratio of 0.85. The firm has a 50-day moving average price of $11.80 and a two-hundred day moving average price of $12.24.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Tidal Investments LLC acquired a new position in Metals Acquisition during the third quarter valued at approximately $186,000. Barclays PLC boosted its position in Metals Acquisition by 286.6% during the third quarter. Barclays PLC now owns 72,260 shares of the company’s stock valued at $1,000,000 after purchasing an additional 53,567 shares during the last quarter. Wellington Management Group LLP boosted its position in Metals Acquisition by 799.1% during the third quarter. Wellington Management Group LLP now owns 909,588 shares of the company’s stock valued at $12,598,000 after purchasing an additional 808,418 shares during the last quarter. State Street Corp boosted its position in Metals Acquisition by 28.7% during the third quarter. State Street Corp now owns 698,943 shares of the company’s stock valued at $9,680,000 after purchasing an additional 156,022 shares during the last quarter. Finally, Quarry LP acquired a new position in Metals Acquisition during the third quarter valued at approximately $34,000. 87.47% of the stock is owned by institutional investors and hedge funds.

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.