MAC Copper Limited (NYSE:MTAL) Stock Short Interest Drops 97.9%

MAC Copper Limited (NYSE:MTAL) was the target of a large decrease in short interest in September. As of September 15th, there was short interest totaling 25 shares, a decrease of 97.9% from the August 31st total of 1,171 shares. Based on an average daily trading volume, of 16,289 shares, the short-interest ratio is presently 0.0 days. Approximately 0.0% of the shares of the stock are sold short.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded MAC Copper from a “sell (d-)” rating to a “sell (e)” rating in a research report on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, MAC Copper presently has an average rating of “Moderate Buy”.

MAC Copper Price Performance

Shares of MAC Copper stock remained flat at $10.17 on Thursday. 41,836 shares of the stock traded hands, compared to its average volume of 51,541. MAC Copper has a 52-week low of $9.95 and a 52-week high of $11.80. The company’s 50 day moving average price is $10.18 and its 200-day moving average price is $10.54.

MAC Copper Company Profile

MAC Copper Limited (NYSE: MTAL) is a copper mining company focused on the ownership and operation of the CSA Copper Mine in the Cobar region of New South Wales, Australia. The company was formerly known as Metals Acquisition Limited and acquired the CSA operation from Glencore in 2023.

The CSA Copper Mine is an underground mining operation that produces copper concentrate for sale to international customers. Its activities include underground mining, ore processing and the production of copper concentrate, with operations supported by established mining and processing infrastructure.

MAC Copper’s business is concentrated in Australia, while its copper products serve global markets.