Streetbeat News

MTAL

Metals Acquisition Corp

https://www.metalsacquisition.com

Industry

Shell Companies

Metals Acquisition Corp does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The company intends to focus its search on metals and mining businesses. Metals Acquisition Corp was incorporated in 2021 and is based in Fort Worth, Texas.

Open

13.01

Mkt cap

996M

Volume

321K

High

13.88

P/E Ratio

-4.13

52-wk high

15.26

Low

13.01

Div yield

N/A

52-wk low

9.50

BMO Capital has downgraded Metals Acquisition (NYSE:MTAL) from Outperform to Market Perform and lowered the price target from $13 to $12.

Portfolio Pulse from Benzinga Newsdesk

May 21, 2024 | 9:23 am

Alpha Metallurgical reported Q1 net income of $127M and sales of $864M, with a share repurchase program of $1.5B. Metals Acquisition announced the redemption of all outstanding warrants for 10 cents each to simplify its capital structure. Latin Metals updated on its Organullo Project, with AngloGold identifying a high-priority drill corridor. Idaho Strategic Resources reported a 76.5% increase in revenue and a significant rise in gold production, alongside cost savings from new contracts and property purchases.

Portfolio Pulse from austin@walkonholdings.com

May 06, 2024 | 8:38 pm

Cleveland-Cliffs and Freeport-McMoRan reported strong Q1 2024 results, with Cleveland-Cliffs announcing a new $1.5 billion share buyback program and Freeport-McMoRan exceeding copper sales estimates. Worthington Steel was named GM Supplier of the Year for the third time, and Metals Acquisition Ltd announced significant growth in resources and mine life for the CSA Copper Mine.

Portfolio Pulse from austin@walkonholdings.com

April 23, 2024 | 10:03 pm

Metals Acquisition Limited (NYSE:MTAL) announced significant updates to its Resource and Reserve Statement and 3-year production guidance for the CSA Copper Mine, showing substantial increases in mine life and contained copper. The updates include a 67% increase in mine life to 11 years, a 64% increase in contained copper to 0.5Mt, and an 83% increase in Measured and Indicated Resources. The company also provided production guidance for 2024-2026, indicating a steady increase in copper production. These improvements come after only ten months of ownership and are based on data from two and a half months post-acquisition.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 9:05 pm

Nexa Resources suspends operations at Morro Agudo, impacting zinc and lead production. Metals Acquisition reports high copper grades at CSA Copper Mine, aiming for resource expansion. Golden Minerals announces 2023 financial results, with decreased revenue and a net loss, alongside mining operation updates. ArcelorMittal appoints Kleber Silva as EVP and CEO of its mining division, leveraging his extensive industry experience.

Portfolio Pulse from Austin DeNoce

March 19, 2024 | 9:08 pm

Scotiabank analyst Eric Winmill initiates coverage on Metals Acquisition Corp (NYSE:MTAL) with a Sector Outperform rating and a price target of $14.5.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 1:39 pm

JPMorgan Chase analyst Bill Peterson maintained a Neutral rating on Piedmont Lithium Inc. (PLL) and lowered the price target from $25 to $15. Metals Acquisition Limited (MTAL) announced its IPO in Australia was oversubscribed, with proceeds increased to A$325 million. Nexa Resources S.A. (NEXA) reported its 2023 exploration results, achieving 97% of planned activities. Compass Minerals International Inc. (CMP) reported Q1 fiscal 2024 results with a 67% increase in Plant Nutrition sales and announced a 6% reduction in 2024 capital expenditure.

Portfolio Pulse from Austin DeNoce

February 09, 2024 | 9:36 pm

Metals Acquisition Corp (MTAL) announced that its initial offering related to its ASX listing was oversubscribed and has been upsized to approximately A$325 million. This indicates strong investor interest and confidence in the company's prospects.

Portfolio Pulse from Benzinga Newsdesk

February 09, 2024 | 11:06 am

Metals Acquisition Limited (MTAL) is pursuing a dual listing in Australia with an IPO aiming to raise A$300 million for repaying a loan, increasing working capital, and other expenses. Vale S.A. (VALE) and BHP Group Limited (BHP) have been ordered by a Brazilian judge to pay $9.67 billion for damages from a 2015 dam collapse. Freeport-McMoRan Incorporated (FCX) is expected to benefit from rising copper and gold demand, with significant sales and active projects tracked for 2024.

Portfolio Pulse from Austin DeNoce

January 26, 2024 | 8:57 pm

Metals Acquisition Corp (MTAL) is moving forward with its plans for a dual listing on the Australian Securities Exchange (ASX) by lodging a prospectus. This step is part of the process to allow shares of MTAL to be traded on the ASX in addition to their current listing on the US stock exchange.

Portfolio Pulse from Benzinga Newsdesk

January 26, 2024 | 11:43 am

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