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

MAC Copper Limited (NYSE:MTAL) was the recipient of a significant growth in short interest during the month of October. As of October 30th, there was short interest totaling 974 shares, a growth of 5,311.1% from the October 15th total of 18 shares. Based on an average daily volume of 4,841 shares, the short-interest ratio is currently 0.2 days. Currently, 0.0% of the shares of the stock are short sold.

Hedge Funds Weigh In On MAC Copper

An institutional investor recently bought a new stake in MAC Copper stock. First Trust Capital Management L.P. acquired a new stake in MAC Copper Limited (NYSE:MTAL) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 351,270 shares of the company’s stock, valued at approximately $3,569,000. First Trust Capital Management L.P. owned 1.15% of MAC Copper at the end of the most recent reporting period. 87.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings lowered MAC Copper from a “sell (d-)” rating to a “sell (e)” rating in a research report on Friday, August 14th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat, the company presently has a consensus rating of “Sell”.

MAC Copper Trading Down 0.4%

MTAL traded down $0.04 during trading on Tuesday, reaching $10.10. 734 shares of the company’s stock were exchanged, compared to its average volume of 28,657. MAC Copper has a one year low of $9.95 and a one year high of $11.80. The firm has a fifty day moving average price of $10.15 and a two-hundred day moving average price of $10.72.

About MAC Copper

MAC Copper Limited is a mineral exploration and development company focused on identifying and advancing copper projects. The company’s activities include exploration, geological evaluation and assessment of potential copper resources. MAC Copper has focused its efforts on copper opportunities in Colombia and other prospective areas of the Americas. Its portfolio is centered on early-stage exploration and project development rather than the production or sale of refined metals. The company is listed on the New York Stock Exchange under the symbol MTAL.