Lifezone Metals (NYSE:LZM) Stock Price Up 2.3% – Should You Buy?

Lifezone Metals Limited (NYSE:LZM)’s share price traded up 2.3% during mid-day trading on Friday. The company traded as high as $3.88 and last traded at $3.8380. 401,425 shares changed hands during mid-day trading, an increase of 29% from the average daily volume of 310,432 shares. The stock had previously closed at $3.75.

Analyst Ratings Changes

A number of equities analysts recently commented on LZM shares. Wall Street Zen raised shares of Lifezone Metals from a “sell” rating to a “hold” rating in a research report on Saturday, July 4th. Weiss Ratings restated a “sell (e+)” rating on shares of Lifezone Metals in a research report on Friday, September 4th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Lifezone Metals has an average rating of “Hold” and a consensus target price of $7.00.

Lifezone Metals Stock Up 2.3%

The company has a market cap of $323.17 million, a P/E ratio of -0.82 and a beta of 1.35. The stock has a 50-day moving average of $3.95 and a 200 day moving average of $4.15. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.67 and a quick ratio of 0.66.

Institutional Trading of Lifezone Metals

Large investors have recently made changes to their positions in the company. Jennison Associates LLC raised its stake in Lifezone Metals by 1.9% during the first quarter. Jennison Associates LLC now owns 789,674 shares of the company’s stock worth $2,653,000 after acquiring an additional 14,506 shares in the last quarter. Squarepoint Ops LLC grew its holdings in shares of Lifezone Metals by 406.6% during the 2nd quarter. Squarepoint Ops LLC now owns 61,412 shares of the company’s stock valued at $238,000 after purchasing an additional 49,290 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Lifezone Metals by 434.1% during the first quarter. Renaissance Technologies LLC now owns 119,153 shares of the company’s stock worth $400,000 after buying an additional 96,844 shares in the last quarter.

About Lifezone Metals

Lifezone Metals Limited is a metals company focused on developing lower-emission methods for producing nickel, copper and cobalt. The company’s business model combines mineral development with its proprietary Hydromet technology, which is designed to process mineral concentrates using hydrometallurgical methods rather than conventional high-temperature smelting.

Lifezone’s principal asset is the Kabanga Nickel project in Tanzania, which is being developed as an integrated mine-to-metal operation.