TMC the metals company Inc. (NASDAQ:TMC) Given Consensus Rating of “Hold” by Brokerages

TMC the metals company Inc. (NASDAQ:TMC) has been assigned an average recommendation of “Hold” from the five brokerages that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $7.4167.

Several research analysts have issued reports on the stock. HC Wainwright lifted their price target on shares of TMC the metals from $7.25 to $7.50 and gave the stock a “buy” rating in a research report on Friday, November 14th. Zacks Research raised TMC the metals from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of TMC the metals in a report on Wednesday, October 8th.

TMC the metals Trading Down 3.0%

Shares of NASDAQ TMC opened at $7.00 on Friday. TMC the metals has a twelve month low of $1.02 and a twelve month high of $11.35. The firm has a 50-day moving average of $6.51 and a two-hundred day moving average of $6.55. The company has a market capitalization of $2.89 billion, a price-to-earnings ratio of -9.09 and a beta of 1.85.

TMC the metals (NASDAQ:TMC) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.08). As a group, research analysts predict that TMC the metals will post -0.22 earnings per share for the current year.

Insider Transactions at TMC the metals

In other TMC the metals news, insider Anthony O’sullivan sold 50,000 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $6.77, for a total transaction of $338,500.00. Following the completion of the sale, the insider directly owned 2,025,667 shares of the company’s stock, valued at approximately $13,713,765.59. This represents a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 27.60% of the company’s stock.

Institutional Investors Weigh In On TMC the metals

A number of large investors have recently made changes to their positions in TMC. NewEdge Advisors LLC acquired a new position in TMC the metals in the 2nd quarter worth approximately $28,000. Wolverine Asset Management LLC boosted its position in shares of TMC the metals by 752.6% in the second quarter. Wolverine Asset Management LLC now owns 4,945 shares of the company’s stock worth $33,000 after buying an additional 4,365 shares during the period. Sunbelt Securities Inc. acquired a new stake in shares of TMC the metals in the third quarter worth $34,000. KBC Group NV purchased a new position in shares of TMC the metals during the second quarter valued at $37,000. Finally, Quantbot Technologies LP acquired a new position in TMC the metals during the second quarter valued at $48,000. Institutional investors and hedge funds 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. Its products are used in electric vehicles (EV), renewable energy storage markets, EV wiring, energy transmission, manganese alloy production required for steel production, and other applications.