Short Interest in Metals Acquisition Limited (NYSE:MTAL) Rises By 26.3%

Metals Acquisition Limited (NYSE:MTAL) was the recipient of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 2,110,000 shares, an increase of 26.3% from the March 15th total of 1,670,000 shares. Approximately 3.9% of the shares of the company are sold short. Based on an average daily volume of 343,400 shares, the days-to-cover ratio is presently 6.1 days.

Metals Acquisition Price Performance

Shares of MTAL stock traded down $0.21 on Monday, hitting $8.55. The company’s stock had a trading volume of 135,418 shares, compared to its average volume of 331,216. Metals Acquisition has a fifty-two week low of $7.69 and a fifty-two week high of $15.26. The stock’s 50 day moving average is $9.88 and its 200-day moving average is $11.09. The company has a current ratio of 0.84, a quick ratio of 0.69 and a debt-to-equity ratio of 0.85.

Analyst Upgrades and Downgrades

MTAL has been the subject of a number of research reports. BMO Capital Markets began coverage on shares of Metals Acquisition in a research note on Wednesday, April 16th. They set an “outperform” rating and a $11.00 target price for the company. Scotiabank dropped their price target on Metals Acquisition from $16.00 to $14.50 and set a “sector outperform” rating for the company in a report on Monday, January 6th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Squarepoint Ops LLC bought a new stake in shares of Metals Acquisition in the fourth quarter valued at approximately $235,000. Tidal Investments LLC lifted its position in shares of Metals Acquisition by 33.6% during the 4th quarter. Tidal Investments LLC now owns 17,982 shares of the company’s stock valued at $191,000 after acquiring an additional 4,524 shares during the period. SailingStone Capital Partners LLC grew its holdings in shares of Metals Acquisition by 3.9% during the 4th quarter. SailingStone Capital Partners LLC now owns 2,633,391 shares of the company’s stock worth $27,967,000 after purchasing an additional 98,925 shares in the last quarter. ProShare Advisors LLC increased its position in shares of Metals Acquisition by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 15,170 shares of the company’s stock worth $161,000 after purchasing an additional 4,990 shares during the period. Finally, Millennium Management LLC lifted its position in Metals Acquisition by 11.2% during the fourth quarter. Millennium Management LLC now owns 2,028,073 shares of the company’s stock worth $21,538,000 after purchasing an additional 204,439 shares during the period. Institutional investors and hedge funds own 87.47% of the company’s stock.

Metals Acquisition 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.