MAC Copper (NYSE:MTAL) Trading at $10.10

MAC Copper Limited (NYSE:MTAL)’s stock price shot up 0% during mid-day trading on Thursday. The stock traded as high as $10.09 and last traded at $10.0950. Approximately 176,225 shares changed hands during trading, an increase of 515% from the average daily volume of 28,657 shares. The stock had previously closed at $10.09.

Analyst Upgrades and Downgrades

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 research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, MAC Copper currently has an average rating of “Sell”.

MAC Copper Trading Up 0.8%

The firm’s 50-day moving average is $10.15 and its 200 day moving average is $10.74.

Hedge Funds Weigh In On MAC Copper

A hedge fund recently bought a new stake in MAC Copper stock. First Trust Capital Management L.P. acquired a new position in MAC Copper Limited (NYSE:MTAL) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 351,270 shares of the company’s stock, valued at approximately $3,569,000. First Trust Capital Management L.P. owned about 1.15% of MAC Copper as of its most recent SEC filing. Institutional investors own 87.47% of the company’s stock.

MAC Copper Company Profile

MAC Copper Limited is a mineral exploration and development company focused on identifying and advancing copper projects. The company’s activities include exploration, geological evaluation and assessment of potential copper resources.

MAC Copper has focused its efforts on copper opportunities in Colombia and other prospective areas of the Americas. Its portfolio is centered on early-stage exploration and project development rather than the production or sale of refined metals.

The company is listed on the New York Stock Exchange under the symbol MTAL.