Lifezone Metals (NYSE:LZM) Trading Down 2.5% – Here’s Why

Shares of Lifezone Metals Limited (NYSE:LZM) traded down 2.5% on Friday . The company traded as low as $4.39 and last traded at $4.4180. 192,159 shares were traded during trading, a decline of 33% from the average session volume of 285,181 shares. The stock had previously closed at $4.53.

Wall Street Analyst Weigh In

LZM has been the topic of several recent research reports. BTIG Research decreased 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lifezone Metals in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $7.00.

Lifezone Metals Price Performance

The stock has a market cap of $345.80 million, a price-to-earnings ratio of -0.95 and a beta of 0.63. The firm has a 50 day simple moving average of $4.82 and a two-hundred day simple moving average of $4.71.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of LZM. Y Intercept Hong Kong Ltd acquired a new position in shares of Lifezone Metals in the 2nd quarter valued at $105,000. CIBC Asset Management Inc bought a new position in Lifezone Metals during the fourth quarter worth about $49,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Lifezone Metals in the third quarter valued at about $71,000. Creative Planning increased its holdings in shares of Lifezone Metals by 260.7% in the third quarter. Creative Planning now owns 392,957 shares of the company’s stock worth $2,153,000 after acquiring an additional 284,006 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of Lifezone Metals in the third quarter worth about $83,000.

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.