Wedbush Equities Analysts Lift Earnings Estimates for TMC the metals company Inc. (NASDAQ:TMC)

TMC the metals company Inc. (NASDAQ:TMC) – Equities researchers at Wedbush boosted their Q1 2024 earnings per share estimates for TMC the metals in a research report issued on Wednesday, March 27th. Wedbush analyst D. Ives now anticipates that the company will earn ($0.05) per share for the quarter, up from their previous forecast of ($0.15). The consensus estimate for TMC the metals’ current full-year earnings is ($0.34) per share. Wedbush also issued estimates for TMC the metals’ Q2 2024 earnings at ($0.05) EPS, Q3 2024 earnings at ($0.06) EPS, Q4 2024 earnings at ($0.06) EPS, FY2024 earnings at ($0.23) EPS and FY2025 earnings at ($0.07) EPS.

TMC the metals Stock Up 6.7 %

TMC the metals stock opened at $1.43 on Friday. The business’s 50-day simple moving average is $1.41 and its 200 day simple moving average is $1.20. The stock has a market cap of $436.38 million, a price-to-earnings ratio of -7.15 and a beta of 1.82. TMC the metals has a 12-month low of $0.65 and a 12-month high of $3.20.

Hedge Funds Weigh In On TMC the metals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Manhattan CO. LLC. boosted its holdings in TMC the metals by 9.0% during the first quarter. First Manhattan CO. LLC. now owns 5,910,000 shares of the company’s stock worth $4,899,000 after buying an additional 490,000 shares during the last quarter. First Manhattan Co. boosted its holdings in TMC the metals by 442.0% during the fourth quarter. First Manhattan Co. now owns 5,420,000 shares of the company’s stock worth $4,173,000 after buying an additional 4,420,000 shares during the last quarter. Baird Financial Group Inc. boosted its holdings in TMC the metals by 10.0% during the second quarter. Baird Financial Group Inc. now owns 1,906,574 shares of the company’s stock worth $3,108,000 after buying an additional 173,303 shares during the last quarter. Old West Investment Management LLC boosted its holdings in TMC the metals by 174.1% during the second quarter. Old West Investment Management LLC now owns 796,615 shares of the company’s stock worth $1,298,000 after buying an additional 506,020 shares during the last quarter. Finally, Toroso Investments LLC lifted its holdings in shares of TMC the metals by 92.1% during the 1st quarter. Toroso Investments LLC now owns 754,602 shares of the company’s stock valued at $1,954,000 after purchasing an additional 361,847 shares in the last quarter. Institutional investors own 4.39% of the company’s stock.

Insider Activity at TMC the metals

In related news, CFO Craig Shesky sold 233,424 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $1.61, for a total value of $375,812.64. Following the transaction, the chief financial officer now owns 947,242 shares in the company, valued at $1,525,059.62. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 31.30% of the stock is owned by company insiders.

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 the Clarion Clipperton Zone (CCZ) in the south-west of San Diego, California. It primarily explores for nickel, cobalt, copper, and manganese products.