MAC Copper’s (NYSE:MTAL – Get Free Report) lock-up period is set to expire on Tuesday, September 8th. MAC Copper had issued 20,000,000 shares in its IPO on March 12th. The total size of the offering was $200,000,000 based on an initial share price of $10.00. After the end of the company’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.
Analysts Set New Price Targets
Separately, Weiss Ratings lowered MAC Copper from a “sell (d-)” rating to a “sell (e)” rating in a research report on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy”.
Get Our Latest Stock Analysis on MAC Copper
MAC Copper Stock Performance
Hedge Funds Weigh In On MAC Copper
Hedge funds and other institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. grew its holdings 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 acquiring an additional 2,197 shares during the period. 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 during the period. Parallel Advisors LLC bought a new stake in shares of MAC Copper during the 3rd quarter valued at about $44,000. Tidal Investments LLC boosted its position in shares of MAC Copper by 18.8% during the 2nd quarter. Tidal Investments LLC now owns 23,990 shares of the company’s stock valued at $290,000 after purchasing an additional 3,788 shares in the last quarter. Finally, Creative Planning boosted its position in shares of MAC Copper by 15.0% during the 3rd quarter. Creative Planning now owns 32,070 shares of the company’s stock valued at $392,000 after purchasing an additional 4,184 shares in the last quarter. Institutional investors and hedge funds own 87.47% of the company’s stock.
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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