Lifezone Metals Limited (NYSE:LZM) Sees Significant Growth in Short Interest

Lifezone Metals Limited (NYSE:LZM) saw a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 1,400,000 shares, a growth of 19.7% from the February 28th total of 1,170,000 shares. Currently, 6.2% of the company’s shares are short sold. Based on an average trading volume of 95,500 shares, the days-to-cover ratio is presently 14.7 days.

Analyst Upgrades and Downgrades

Separately, Roth Mkm reiterated a “buy” rating and issued a $14.00 target price on shares of Lifezone Metals in a report on Wednesday, December 18th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Barclays PLC lifted its stake in Lifezone Metals by 275.9% in the third quarter. Barclays PLC now owns 48,032 shares of the company’s stock valued at $336,000 after buying an additional 35,253 shares during the period. State Street Corp lifted its position in shares of Lifezone Metals by 14.8% during the 3rd quarter. State Street Corp now owns 381,229 shares of the company’s stock valued at $2,669,000 after acquiring an additional 49,197 shares during the period. JPMorgan Chase & Co. boosted its stake in Lifezone Metals by 120.9% during the third quarter. JPMorgan Chase & Co. now owns 68,016 shares of the company’s stock worth $476,000 after acquiring an additional 37,232 shares in the last quarter. Decagon Asset Management LLP acquired a new stake in Lifezone Metals in the fourth quarter worth $4,771,000. Finally, Jane Street Group LLC increased its stake in Lifezone Metals by 15.5% in the third quarter. Jane Street Group LLC now owns 15,749 shares of the company’s stock valued at $110,000 after purchasing an additional 2,118 shares in the last quarter.

Lifezone Metals Price Performance

NYSE LZM traded down $0.27 during mid-day trading on Thursday, reaching $3.54. 51,807 shares of the stock were exchanged, compared to its average volume of 119,192. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.09 and a quick ratio of 1.08. The stock has a 50 day simple moving average of $5.24 and a 200-day simple moving average of $6.19. Lifezone Metals has a one year low of $3.43 and a one year high of $9.51.

About Lifezone Metals

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.