Metals Acquisition (NYSE:MTAL) Shares Down 2.9% – Should You Sell?

Metals Acquisition Limited (NYSE:MTAL) shares fell 2.9% during mid-day trading on Wednesday . The stock traded as low as $9.01 and last traded at $9.06. 55,283 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 301,164 shares. The stock had previously closed at $9.33.

Wall Street Analyst Weigh In

Separately, Scotiabank reduced their target price on shares of 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 Stock Performance

The company has a quick ratio of 0.69, a current ratio of 0.84 and a debt-to-equity ratio of 0.85. The business has a 50 day simple moving average of $10.57 and a two-hundred day simple moving average of $11.55.

Hedge Funds Weigh In On Metals Acquisition

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