Lifezone Metals (NYSE:LZM) Trading 1.2% Higher – Here’s Why
by Amy Steele · The Cerbat GemShares of Lifezone Metals Limited (NYSE:LZM – Get Free Report) traded up 1.2% during trading on Thursday . The company traded as high as $5.85 and last traded at $5.79. 356,014 shares were traded during mid-day trading, an increase of 24% from the average session volume of 286,191 shares. The stock had previously closed at $5.72.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on LZM. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lifezone Metals in a research report on Monday, December 29th. BTIG Research lowered their price objective on Lifezone Metals from $11.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, November 12th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $7.00.
Check Out Our Latest Analysis on LZM
Lifezone Metals Stock Up 2.2%
The firm has a market capitalization of $454.75 million, a price-to-earnings ratio of -1.27 and a beta of 0.62. The stock has a 50 day moving average of $4.41 and a 200 day moving average of $4.65.
Institutional Investors Weigh In On Lifezone Metals
A number of institutional investors have recently made changes to their positions in the company. Intech Investment Management LLC raised its holdings in shares of Lifezone Metals by 23.0% during the third quarter. Intech Investment Management LLC now owns 20,795 shares of the company’s stock worth $114,000 after purchasing an additional 3,894 shares during the period. JPMorgan Chase & Co. grew its position in shares of Lifezone Metals by 50.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 19,826 shares of the company’s stock valued at $109,000 after buying an additional 6,619 shares during the last quarter. Rhumbline Advisers raised its stake in Lifezone Metals by 22.9% during the first quarter. Rhumbline Advisers now owns 44,971 shares of the company’s stock worth $188,000 after acquiring an additional 8,376 shares during the period. EdgePoint Investment Group Inc. raised its stake in Lifezone Metals by 65.6% during the third quarter. EdgePoint Investment Group Inc. now owns 28,437 shares of the company’s stock worth $156,000 after acquiring an additional 11,262 shares during the period. Finally, Ballentine Partners LLC bought a new position in Lifezone Metals in the third quarter worth about $66,000.
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.