TMC the metals company Inc. (NASDAQ:TMC) Receives $7.42 Consensus Target Price from Brokerages

Shares of TMC the metals company Inc. (NASDAQ:TMC) have been given a consensus recommendation of “Hold” by the five ratings firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $7.4167.

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

TMC the metals Trading Down 5.2%

Shares of TMC opened at $7.31 on Wednesday. TMC the metals has a 1-year low of $0.81 and a 1-year high of $11.35. The firm’s 50-day moving average price is $6.70 and its 200-day moving average price is $6.43. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of -9.49 and a beta of 1.82.

TMC the metals (NASDAQ:TMC) last issued its quarterly earnings data on Thursday, November 13th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.08). On average, research analysts forecast that TMC the metals will post -0.22 EPS for the current fiscal year.

Insider Buying and Selling at TMC the metals

In other news, insider Anthony O’sullivan sold 50,000 shares of TMC the metals stock in a transaction that occurred on 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 transaction, the insider directly owned 2,025,667 shares in the company, valued at approximately $13,713,765.59. This trade represents a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 27.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Howe & Rusling Inc. grew its stake in shares of TMC the metals by 31.2% in the third quarter. Howe & Rusling Inc. now owns 14,855 shares of the company’s stock worth $95,000 after acquiring an additional 3,530 shares during the last quarter. Thomas J. Herzfeld Advisors Inc. grew its position in TMC the metals by 44.1% during the 2nd quarter. Thomas J. Herzfeld Advisors Inc. now owns 12,911 shares of the company’s stock valued at $85,000 after purchasing an additional 3,952 shares during the last quarter. Concurrent Investment Advisors LLC increased its stake in TMC the metals by 11.9% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 37,868 shares of the company’s stock valued at $250,000 after purchasing an additional 4,023 shares in the last quarter. NewEdge Advisors LLC purchased a new position in TMC the metals in the second quarter worth about $28,000. Finally, Wolverine Asset Management LLC lifted its stake 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 in 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. 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.