BMO Capital Markets lowered shares of Metals Acquisition (NYSE:MTAL – Free Report) from an outperform rating to a market perform rating in a report released on Tuesday, MarketBeat Ratings reports. The firm currently has $12.00 price target on the stock, down from their previous price target of $13.00.
Separately, Scotiabank began coverage on shares of Metals Acquisition in a research note on Monday, March 4th. They issued a sector outperform rating and a $14.50 target price for the company. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Metals Acquisition currently has a consensus rating of Moderate Buy and an average price target of $13.58.
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Metals Acquisition Stock Performance
Institutional Investors Weigh In On Metals Acquisition
Institutional investors and hedge funds have recently modified their holdings of the company. Kepos Capital LP purchased a new stake in Metals Acquisition during the third quarter worth $210,000. Tuttle Capital Management LLC acquired a new stake in Metals Acquisition in the 1st quarter valued at about $517,000. Regal Partners Ltd increased its holdings in Metals Acquisition by 1.2% during the 3rd quarter. Regal Partners Ltd now owns 303,705 shares of the company’s stock valued at $3,638,000 after acquiring an additional 3,705 shares in the last quarter. CI Investments Inc. acquired a new position in Metals Acquisition during the third quarter worth about $6,676,000. Finally, Adage Capital Partners GP L.L.C. lifted its holdings in shares of Metals Acquisition by 10.4% in the third quarter. Adage Capital Partners GP L.L.C. now owns 687,139 shares of the company’s stock valued at $8,232,000 after purchasing an additional 64,616 shares in the last quarter. Institutional investors and hedge funds 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.
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