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

Shares of TMC the metals company Inc. (NASDAQ:TMC) have received an average recommendation of “Hold” from the five analysts that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $10.5833.

Several analysts have weighed in on TMC shares. HC Wainwright reiterated a “buy” rating and issued a $11.75 price objective on shares of TMC the metals in a research note on Tuesday, June 2nd. Maxim Group began coverage on shares of TMC the metals in a research report on Thursday, June 4th. They set a “buy” rating and a $10.00 target price on the stock. 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. Weiss Ratings reiterated a “sell (d-)” rating on shares of TMC the metals in a research report on Friday, July 17th. Finally, Wedbush lifted their price target on shares of TMC the metals from $8.00 to $10.00 and gave the company an “outperform” rating in a research report on Monday, May 4th.

TMC the metals Stock Performance

TMC opened at $3.77 on Tuesday. TMC the metals has a fifty-two week low of $3.40 and a fifty-two week high of $11.35. The company has a market capitalization of $1.63 billion, a P/E ratio of -5.16 and a beta of 2.06. The stock has a fifty day moving average of $4.29 and a 200-day moving average of $5.17.

TMC the metals (NASDAQ:TMC) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.08). On average, equities research analysts predict that TMC the metals will post -0.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other TMC the metals news, Director Brendan May sold 20,768 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $6.42, for a total transaction of $133,330.56. Following the transaction, the director owned 193,346 shares in the company, valued at $1,241,281.32. This trade represents a 9.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 28.50% of the stock is currently owned by company insiders.

Institutional Trading of TMC the metals

A number of institutional investors have recently modified their holdings of TMC. NewEdge Advisors LLC acquired a new stake in shares of TMC the metals during the 2nd quarter worth $28,000. Osterweis Capital Management Inc. acquired a new position in TMC the metals in the fourth quarter valued at about $29,000. Caitong International Asset Management Co. Ltd acquired a new position in TMC the metals in the fourth quarter valued at about $29,000. Sunbelt Securities Inc. bought a new stake in TMC the metals during the third quarter worth about $34,000. Finally, Farther Finance Advisors LLC lifted its position in TMC the metals by 465.8% during the fourth quarter. Farther Finance Advisors LLC now owns 5,686 shares of the company’s stock worth $35,000 after purchasing an additional 4,681 shares during the period. 4.39% of the stock is currently owned by institutional investors.

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.