Wellington Management Group LLP Purchases 808,418 Shares of Metals Acquisition Limited (NYSE:MTAL)

Wellington Management Group LLP lifted its position in shares of Metals Acquisition Limited (NYSE:MTAL) by 799.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 909,588 shares of the company’s stock after purchasing an additional 808,418 shares during the period. Wellington Management Group LLP’s holdings in Metals Acquisition were worth $12,598,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Amalgamated Bank purchased a new stake in Metals Acquisition in the 2nd quarter valued at about $26,000. Quarry LP bought a new position in shares of Metals Acquisition in the third quarter valued at approximately $34,000. Quantbot Technologies LP purchased a new stake in shares of Metals Acquisition during the third quarter valued at approximately $46,000. FMR LLC bought a new stake in Metals Acquisition during the third quarter worth $107,000. Finally, Creative Planning purchased a new position in Metals Acquisition in the third quarter worth $190,000. 87.47% of the stock is currently owned by hedge funds and other institutional investors.

Metals Acquisition Price Performance

Metals Acquisition stock opened at $12.20 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.84 and a quick ratio of 0.69. The firm has a 50 day moving average price of $12.56 and a 200-day moving average price of $12.70. Metals Acquisition Limited has a twelve month low of $9.77 and a twelve month high of $15.26.

Analysts Set New Price Targets

Separately, Scotiabank lowered their target price on Metals Acquisition from $17.00 to $16.00 and set a “sector outperform” rating on the stock in a research note on Monday, August 19th.

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.