Lifezone Metals (NYSE:LZM) Shares Up 1.9% – Still a Buy?

Shares of Lifezone Metals Limited (NYSE:LZM) traded up 1.9% during trading on Thursday . The stock traded as high as $3.89 and last traded at $3.77. 210,964 shares changed hands during mid-day trading, an increase of 38% from the average session volume of 153,119 shares. The stock had previously closed at $3.70.

Analyst Ratings Changes

A number of research firms have recently commented on LZM. BTIG Research reduced their price objective on shares of Lifezone Metals from $11.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, November 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lifezone Metals in a research note on Monday. Finally, Wall Street Zen upgraded Lifezone Metals from a “sell” rating to a “hold” rating in a report on Sunday, August 24th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $7.00.

Lifezone Metals Stock Performance

The stock has a 50-day moving average price of $4.35 and a two-hundred day moving average price of $4.53. The stock has a market capitalization of $309.17 million, a PE ratio of -0.85 and a beta of 0.63.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Nuveen LLC acquired a new position in Lifezone Metals during the 1st quarter worth about $278,000. Invesco Ltd. boosted its holdings in Lifezone Metals by 31.3% in the 1st quarter. Invesco Ltd. now owns 910,530 shares of the company’s stock valued at $3,806,000 after purchasing an additional 217,101 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Lifezone Metals during the second quarter worth about $105,000. Virtu Financial LLC purchased a new position in Lifezone Metals during the 3rd quarter valued at about $83,000. Finally, Dimensional Fund Advisors LP lifted its holdings in Lifezone Metals by 87.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 46,397 shares of the company’s stock valued at $254,000 after purchasing an additional 21,625 shares in the last quarter.

Lifezone Metals Company Profile

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.