MAC Copper Limited (NYSE:MTAL) Sees Large Decline in Short Interest

MAC Copper Limited (NYSE:MTAL) was the recipient of a significant drop in short interest in the month of June. As of June 30th, there was short interest totaling 1,671 shares, a drop of 42.5% from the June 15th total of 2,905 shares. Based on an average daily volume of 15,999 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.0% of the shares of the company are short sold.

MAC Copper Stock Performance

NYSE:MTAL remained flat at $10.20 during midday trading on Friday. 5,394 shares of the company were exchanged, compared to its average volume of 25,864. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.58 and a quick ratio of 0.45. The business’s 50-day simple moving average is $10.18 and its two-hundred day simple moving average is $11.25. MAC Copper has a 1 year low of $10.00 and a 1 year high of $11.80.

Institutional Trading of MAC Copper

Hedge funds and other institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its stake in shares of MAC Copper by 50.3% during the first quarter. Goldman Sachs Group Inc. now owns 257,397 shares of the company’s stock worth $2,456,000 after acquiring an additional 86,197 shares during the period. Creative Planning lifted its position in MAC Copper by 166.8% in the second quarter. Creative Planning now owns 27,886 shares of the company’s stock valued at $337,000 after purchasing an additional 17,434 shares during the period. JPMorgan Chase & Co. boosted its holdings in MAC Copper by 254.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 92,820 shares of the company’s stock valued at $1,122,000 after purchasing an additional 66,636 shares in the last quarter. Legal & General Group Plc boosted its holdings in MAC Copper by 135.5% in the 2nd quarter. Legal & General Group Plc now owns 11,661 shares of the company’s stock valued at $141,000 after purchasing an additional 6,709 shares in the last quarter. Finally, Rhumbline Advisers increased its position in MAC Copper by 45.1% during the 2nd quarter. Rhumbline Advisers now owns 92,431 shares of the company’s stock worth $1,117,000 after purchasing an additional 28,735 shares during the period. Hedge funds and other institutional investors own 87.47% of the company’s stock.

MAC Copper 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.