Lifezone Metals (NYSE:LZM) Stock Price Up 1.9% – Here’s Why

Lifezone Metals Limited (NYSE:LZM) shares traded up 1.9% during mid-day trading on Thursday . The company traded as high as $3.89 and last traded at $3.77. 210,964 shares changed hands during trading, an increase of 38% from the average session volume of 153,119 shares. The stock had previously closed at $3.70.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Lifezone Metals in a report on Monday. BTIG Research reduced their price target on shares of Lifezone Metals from $11.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, November 12th. Finally, Wall Street Zen upgraded shares of Lifezone Metals from a “sell” rating to a “hold” rating in a research note on Sunday, August 24th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Lifezone Metals currently has an average rating of “Hold” and an average price target of $7.00.

Lifezone Metals Trading Up 1.9%

The firm has a market capitalization of $295.08 million, a P/E ratio of -0.81 and a beta of 0.63. The firm has a 50 day moving average price of $4.39 and a 200-day moving average price of $4.53.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Ballentine Partners LLC bought a new stake in Lifezone Metals during the 3rd quarter valued at about $66,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Lifezone Metals in the 3rd quarter worth about $71,000. Virtu Financial LLC purchased a new position in shares of Lifezone Metals during the third quarter worth approximately $83,000. EdgePoint Investment Group Inc. purchased a new position in shares of Lifezone Metals during the second quarter worth approximately $71,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Lifezone Metals by 50.1% during the third quarter. JPMorgan Chase & Co. now owns 19,826 shares of the company’s stock valued at $109,000 after acquiring an additional 6,619 shares in the last quarter.

Lifezone Metals Company Profile

Lifezone Metals Limited engages in the extraction and refining of metals. It supplies lower-carbon and sulfur dioxide emission metals to the battery storage, EV, and hydrogen markets. The company’s products include nickel, copper, and cobalt. Its flagship project is the Kabanga nickel project in North-West Tanzania.