Lifezone Metals (NYSE:LZM) Trading 1.2% Higher – What’s Next?

Shares of Lifezone Metals Limited (NYSE:LZM) shot up 1.2% during trading on Thursday . The stock traded as high as $5.85 and last traded at $5.79. 356,014 shares were traded during mid-day trading, an increase of 24% from the average session volume of 286,191 shares. The stock had previously closed at $5.72.

Analysts Set New Price Targets

A number of analysts have recently weighed in on LZM shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lifezone Metals in a research report on Monday, December 29th. BTIG Research cut their price target on Lifezone Metals from $11.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, November 12th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $7.00.

Lifezone Metals Trading Up 1.2%

The stock has a fifty day simple moving average of $4.37 and a 200-day simple moving average of $4.64. The company has a market capitalization of $447.70 million, a PE ratio of -1.24 and a beta of 0.62.

Hedge Funds Weigh In On Lifezone Metals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LZM. Ballentine Partners LLC acquired a new stake in Lifezone Metals during the 3rd quarter worth $66,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Lifezone Metals during the third quarter worth about $71,000. EdgePoint Investment Group Inc. purchased a new position in shares of Lifezone Metals during the second quarter worth about $71,000. Virtu Financial LLC acquired a new position in Lifezone Metals in the 3rd quarter valued at about $83,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in Lifezone Metals in the 2nd quarter valued at about $105,000.

About Lifezone Metals

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. The company is based in Ramsey, Isle of Man.