MAC Copper Limited (NYSE:MTAL) Short Interest Update

MAC Copper Limited (NYSE:MTAL) saw a large growth in short interest in the month of August. As of August 31st, there was short interest totaling 1,171 shares, a growth of 465.7% from the August 15th total of 207 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average trading volume of 84,058 shares, the days-to-cover ratio is presently 0.0 days.

MAC Copper Trading Down 0.2%

MTAL stock traded down $0.03 during midday trading on Friday, reaching $10.18. 93,497 shares of the company’s stock traded hands, compared to its average volume of 62,658. The company has a 50-day moving average price of $10.19 and a two-hundred day moving average price of $10.68. MAC Copper has a 52 week low of $10.00 and a 52 week high of $11.80.

Analyst Ratings Changes

Separately, Weiss Ratings cut MAC Copper from a “sell (d-)” rating to a “sell (e)” rating in a research note on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC boosted its position in shares of MAC Copper by 10,692.3% in the second quarter. EverSource Wealth Advisors LLC now owns 2,806 shares of the company’s stock valued at $34,000 after acquiring an additional 2,780 shares during the period. Parallel Advisors LLC bought a new stake in MAC Copper during the 3rd quarter worth approximately $44,000. Russell Investments Group Ltd. lifted its stake in MAC Copper by 56.2% in 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 lifted its stake in MAC Copper by 135.5% in the 2nd 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 purchased a new stake in MAC Copper in the 3rd quarter worth approximately $159,000. Institutional investors 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.