Metals Acquisition price target raised to $15 from $13 at BMO Capital

BMO Capital analyst Jackie Przybylowski raised the firm’s price target on Metals Acquisition to $15 from $13 and keeps a Market Perform rating on the shares. The company’s Q2 production was a “record” and a “positive”, with copper output at highest level on record daily production, the analyst tells investors in a research note. Sales volumes missed the firm’s expectations even though the company reported a large stockpile for next quarter, and BMO sees these deferred sales as a “timing issue”.