Scotiabank lowered the firm’s price target on Metals Acquisition (MTAL) to $13 from $14.50 and keeps an Outperform rating on the shares. The firm is revisiting its price targets on companies in the Metals & Mining sector during this period of uncertainty, the analyst tells investors. The firm has reduced its near-term commodity price expectations and compressed its equity multiples for most miners. Additionally, while valuations appear attractive, further downside risks are very possible, Scotiabank adds.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MTAL:
- MAC Copper Limited’s 2024 Sustainability Report Highlights Major Achievements
- MAC Copper Limited Releases FY24 Annual Report Highlighting Financial Updates
- MAC Copper Limited Simplifies Debt Structure and Enhances Liquidity
- MAC Copper Limited Achieves Record Production and Strengthens Financial Position in 2024
- MAC Copper Limited Unveils 2024 Resource Update and Future Production Plans