MAC Copper (NYSE:MTAL) Trading Up 0.4% – What’s Next?

MAC Copper Limited (NYSE:MTAL)’s stock price rose 0.4% on Wednesday . The company traded as high as $10.18 and last traded at $10.1860. Approximately 2,486 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 30,795 shares. The stock had previously closed at $10.15.

MAC Copper Price Performance

The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.45 and a current ratio of 0.58. The company has a 50 day moving average price of $10.14 and a 200 day moving average price of $11.41.

Institutional Trading of MAC Copper

Hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC lifted its stake in shares of MAC Copper by 10,692.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,806 shares of the company’s stock worth $34,000 after acquiring an additional 2,780 shares during the period. Parallel Advisors LLC acquired a new position in shares of MAC Copper during the third quarter valued at approximately $44,000. Russell Investments Group Ltd. increased its stake in shares of MAC Copper by 56.2% during the second quarter. Russell Investments Group Ltd. now owns 6,108 shares of the company’s stock valued at $74,000 after acquiring an additional 2,197 shares during the period. Legal & General Group Plc raised its holdings in MAC Copper by 135.5% during the second quarter. Legal & General Group Plc now owns 11,661 shares of the company’s stock worth $141,000 after purchasing an additional 6,709 shares in the last quarter. Finally, Orion Porfolio Solutions LLC acquired a new stake in MAC Copper in the third quarter worth approximately $159,000. Institutional investors own 87.47% of the company’s stock.

MAC Copper 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.