MAC Copper Limited (NYSE:MTAL) Short Interest Update

by · The Markets Daily

MAC Copper Limited (NYSE:MTAL – Get Free Report) 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 short sold. Based on an average daily volume of 84,058 shares, the short-interest ratio is presently 0.0 days.

MAC Copper Trading Down 0.2%

MAC Copper stock traded down $0.03 during mid-day trading on Friday, hitting $10.18. The company had a trading volume of 93,497 shares, compared to its average volume of 62,658. MAC Copper has a 12-month low of $10.00 and a 12-month high of $11.80. The company’s fifty day moving average is $10.19 and its 200-day moving average is $10.68.

Analyst Ratings Changes

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

View Our Latest Stock Analysis on MAC Copper

Institutional Trading of MAC Copper

A number of hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in MAC Copper by 11.0% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,862,509 shares of the company’s stock valued at $22,741,000 after buying an additional 185,114 shares in the last quarter. UBS Group AG boosted its stake in shares of MAC Copper by 1,690.6% during the 3rd quarter. UBS Group AG now owns 1,234,977 shares of the company’s stock worth $15,079,000 after acquiring an additional 1,166,006 shares in the last quarter. Balyasny Asset Management L.P. grew its position in shares of MAC Copper by 11.7% during the 3rd quarter. Balyasny Asset Management L.P. now owns 1,232,465 shares of the company’s stock valued at $15,048,000 after acquiring an additional 129,058 shares during the period. Millennium Management LLC grew its position in shares of MAC Copper by 173.5% during the 3rd quarter. Millennium Management LLC now owns 1,103,835 shares of the company’s stock valued at $13,478,000 after acquiring an additional 700,272 shares during the period. Finally, Qube Research & Technologies Ltd increased its stake in shares of MAC Copper by 59.6% in the 3rd quarter. Qube Research & Technologies Ltd now owns 776,649 shares of the company’s stock valued at $9,483,000 after purchasing an additional 290,145 shares in the last quarter. 87.47% of the stock is owned by hedge funds and other institutional investors.

About MAC Copper

(Get Free Report)

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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