TMC the metals’ (TMC) “Neutral” Rating Reaffirmed at Wedbush

Wedbush reissued their neutral rating on shares of TMC the metals (NASDAQ:TMC) in a report issued on Friday,Benzinga reports. They currently have a $6.00 price objective on the stock.

TMC the metals Trading Up 10.3%

Shares of TMC the metals stock opened at $3.64 on Friday. The firm has a market capitalization of $1.27 billion, a P/E ratio of -11.74 and a beta of 1.33. The business has a fifty day simple moving average of $2.41 and a two-hundred day simple moving average of $1.68. TMC the metals has a 12 month low of $0.72 and a 12 month high of $3.80.

TMC the metals (NASDAQ:TMC) last announced its quarterly earnings data on Wednesday, May 14th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.03). Analysts predict that TMC the metals will post -0.22 earnings per share for the current year.

Insider Buying and Selling at TMC the metals

In other TMC the metals news, CFO Craig Shesky sold 353,702 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $1.66, for a total transaction of $587,145.32. Following the completion of the transaction, the chief financial officer now owns 1,145,717 shares of the company’s stock, valued at approximately $1,901,890.22. This trade represents a 23.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 30.00% of the company’s stock.

Hedge Funds Weigh In On TMC the metals

Several large investors have recently modified their holdings of the stock. First Manhattan CO. LLC. raised its position in shares of TMC the metals by 115.2% in the 4th quarter. First Manhattan CO. LLC. now owns 18,726,800 shares of the company’s stock worth $20,974,000 after purchasing an additional 10,025,000 shares during the last quarter. Old West Investment Management LLC raised its position in shares of TMC the metals by 100.0% in the 1st quarter. Old West Investment Management LLC now owns 4,270,076 shares of the company’s stock worth $7,345,000 after purchasing an additional 2,135,038 shares during the last quarter. Baird Financial Group Inc. raised its position in shares of TMC the metals by 35.1% in the 1st quarter. Baird Financial Group Inc. now owns 2,946,027 shares of the company’s stock worth $5,067,000 after purchasing an additional 766,167 shares during the last quarter. Jane Street Group LLC raised its position in TMC the metals by 7,330.9% in the 4th quarter. Jane Street Group LLC now owns 1,345,812 shares of the company’s stock worth $1,507,000 after buying an additional 1,364,424 shares during the last quarter. Finally, Shay Capital LLC raised its position in TMC the metals by 965.6% in the 4th quarter. Shay Capital LLC now owns 932,404 shares of the company’s stock worth $1,044,000 after buying an additional 844,904 shares during the last quarter. Hedge funds and other institutional investors own 4.39% of the company’s stock.

About TMC the metals

TMC the metals company Inc, a deep-sea minerals exploration company, focuses on the collection, processing, and refining of polymetallic nodules found on the seafloor in California. It primarily explores for nickel, cobalt, copper, and manganese products. The company holds exploration and commercial rights in three polymetallic nodule contract areas in the Clarion Clipperton Zone of the Pacific Ocean.