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

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

A number of equities research analysts have issued reports on TMC shares. Weiss Ratings reissued a “sell (d-)” rating on shares of TMC the metals in a research note on Monday, April 20th. Wedbush increased their price objective on TMC the metals from $8.00 to $10.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Wall Street Zen raised TMC the metals from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. HC Wainwright restated a “buy” rating and issued a $11.75 target price on shares of TMC the metals in a research note on Tuesday. Finally, Maxim Group began coverage on TMC the metals in a research report on Thursday. They issued a “buy” rating and a $10.00 target price on the stock.

TMC the metals Stock Down 2.2%

Shares of TMC traded down $0.14 during trading hours on Thursday, reaching $5.98. The company’s stock had a trading volume of 1,027,865 shares, compared to its average volume of 6,986,502. The company has a 50 day moving average of $5.21 and a two-hundred day moving average of $6.13. The firm has a market cap of $2.59 billion, a price-to-earnings ratio of -7.56 and a beta of 1.99. TMC the metals has a 1-year low of $3.93 and a 1-year high of $11.35.

TMC the metals (NASDAQ:TMC) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. As a group, analysts forecast that TMC the metals will post -0.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other TMC the metals news, Director Brendan May sold 20,768 shares of TMC the metals stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $6.42, for a total value of $133,330.56. Following the completion of the sale, the director directly owned 193,346 shares in the company, valued at $1,241,281.32. The trade was a 9.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. NewEdge Advisors LLC bought a new stake in TMC the metals in the second quarter worth $28,000. Osterweis Capital Management Inc. bought a new position in TMC the metals during the fourth quarter valued at about $29,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of TMC the metals in the fourth quarter worth about $29,000. Sunbelt Securities Inc. acquired a new stake in shares of TMC the metals in the third quarter worth about $34,000. Finally, Farther Finance Advisors LLC boosted its stake in shares of TMC the metals by 465.8% during the 4th quarter. Farther Finance Advisors LLC now owns 5,686 shares of the company’s stock worth $35,000 after acquiring an additional 4,681 shares in the last quarter. 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.