Metals Acquisition (NYSE:MTAL) Trading Down 3.1% – Should You Sell?

Shares of Metals Acquisition Limited (NYSE:MTAL) were down 3.1% on Monday . The company traded as low as $10.35 and last traded at $10.36. Approximately 202,928 shares were traded during trading, a decline of 32% from the average daily volume of 297,743 shares. The stock had previously closed at $10.69.

Analyst Ratings Changes

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

Metals Acquisition Trading Up 0.0 %

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 stock’s 50-day moving average is $10.66 and its 200 day moving average is $11.58.

Hedge Funds Weigh In On Metals Acquisition

A number of hedge funds have recently modified their holdings of the stock. Quadrant Capital Group LLC acquired a new position in Metals Acquisition in the 4th quarter worth about $26,000. Quarry LP acquired a new position in Metals Acquisition in the third quarter worth approximately $34,000. Signaturefd LLC bought a new position in Metals Acquisition during the fourth quarter valued at approximately $36,000. Quantbot Technologies LP bought a new position in Metals Acquisition during the third quarter valued at approximately $46,000. Finally, FMR LLC acquired a new stake in Metals Acquisition in the third quarter valued at approximately $107,000. 87.47% of the stock is owned by institutional investors and hedge funds.

Metals Acquisition Company Profile

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.