MAC Copper Limited (NYSE:MTAL – Get Free Report) saw a large drop in short interest during the month of June. As of June 30th, there was short interest totaling 1,671 shares, a drop of 42.5% from the June 15th total of 2,905 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average daily volume of 15,999 shares, the days-to-cover ratio is currently 0.1 days.
Institutional Investors Weigh In On MAC Copper
Institutional investors have recently added to or reduced their stakes in the company. 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 valued at $34,000 after purchasing an additional 2,780 shares in the last quarter. Parallel Advisors LLC acquired a new stake in MAC Copper during the 3rd quarter worth approximately $44,000. Russell Investments Group Ltd. increased its position in MAC Copper by 56.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 6,108 shares of the company’s stock worth $74,000 after purchasing an additional 2,197 shares in the last quarter. Legal & General Group Plc raised its holdings in MAC Copper by 135.5% in the second quarter. Legal & General Group Plc now owns 11,661 shares of the company’s stock valued at $141,000 after buying an additional 6,709 shares during the period. Finally, Orion Porfolio Solutions LLC purchased a new position in MAC Copper in the third quarter valued at approximately $159,000. Hedge funds and other institutional investors own 87.47% of the company’s stock.
MAC Copper Stock Performance
Shares of NYSE MTAL traded down $0.04 during trading on Thursday, hitting $10.19. 10,383 shares of the company traded hands, compared to its average volume of 26,302. The company has a quick ratio of 0.45, a current ratio of 0.58 and a debt-to-equity ratio of 0.68. The company has a 50-day moving average price of $10.18 and a 200-day moving average price of $11.25. MAC Copper has a 1 year low of $10.00 and a 1 year high of $11.80.
About MAC Copper
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.
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