TMC the metals company Inc. (NASDAQ:TMC) Receives Average Recommendation of “Hold” from Analysts

TMC the metals company Inc. (NASDAQ:TMC) has been assigned a consensus rating of “Hold” from the five brokerages that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $10.5833.

Several equities research analysts have recently weighed in on TMC shares. Wedbush upped their target price on shares of TMC the metals from $8.00 to $10.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Maxim Group started coverage on shares of TMC the metals in a report on Thursday, June 4th. They issued a “buy” rating and a $10.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $11.75 target price on shares of TMC the metals in a report on Tuesday, June 2nd. Wall Street Zen raised shares of TMC the metals from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TMC the metals in a report on Monday, April 20th.

TMC the metals Stock Performance

Shares of NASDAQ:TMC opened at $4.25 on Monday. The company’s fifty day moving average is $5.37 and its 200-day moving average is $5.99. TMC the metals has a 52 week low of $3.93 and a 52 week high of $11.35. The company has a market capitalization of $1.84 billion, a PE ratio of -5.38 and a beta of 1.99.

TMC the metals (NASDAQ:TMC) last posted its earnings results on Thursday, May 14th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.01. On average, analysts forecast that TMC the metals will post -0.31 EPS for the current year.

Insider Buying and Selling at TMC the metals

In other TMC the metals news, Director Brendan May sold 20,768 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $6.42, for a total transaction of $133,330.56. Following the sale, the director owned 193,346 shares of the company’s stock, valued at $1,241,281.32. This represents a 9.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 28.50% of the company’s stock.

Institutional Investors Weigh In On TMC the metals

Hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new position in shares of TMC the metals during the 4th quarter worth approximately $1,460,000. Quantbot Technologies LP grew its stake in shares of TMC the metals by 2,615.8% during the 3rd quarter. Quantbot Technologies LP now owns 195,971 shares of the company’s stock worth $1,248,000 after acquiring an additional 188,755 shares in the last quarter. GSA Capital Partners LLP grew its stake in shares of TMC the metals by 123.8% during the 4th quarter. GSA Capital Partners LLP now owns 220,510 shares of the company’s stock worth $1,361,000 after acquiring an additional 121,961 shares in the last quarter. Encompass Capital Advisors LLC bought a new position in shares of TMC the metals during the 4th quarter worth approximately $18,510,000. Finally, SLT Holdings LLC bought a new position in shares of TMC the metals during the 4th quarter worth approximately $1,223,000. Institutional investors own 4.39% of the company’s stock.

TMC the metals Company Profile

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.