TMC the metals (NASDAQ:TMC) Releases Quarterly Earnings Results

TMC the metals (NASDAQ:TMC) posted its quarterly earnings data on Thursday. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.08), FiscalAI reports. The firm had revenue of $18.47 million during the quarter.

Here are the key takeaways from TMC the metals’ conference call:

• USA-A permitting is delayed: NOAA certification for the consolidated USA-A application is now expected in October 2026, making a permanent grant in the first quarter of 2027 unlikely, although TMC still expects approval before targeted vessel commissioning in Q4 2027.
• Commercial offshore system advances toward procurement. Allseas has completed basic engineering for key long-lead components, with fabrication planned from Q4 2026 through Q3 2027 and installation and commissioning targeted for Q4 2027; the initial system is designed for 3 million wet tons of nodules annually.
• TMC is pursuing a U.S.-based processing and refining hub in Brownsville, Texas, with feasibility work nearing completion for a potential 12-million-ton-per-year industrial park. Management said discussions with multiple U.S. agencies regarding support are ongoing, but emphasized that no government investment has yet been committed and no final investment decision has been made.
• The company reported a Q2 net loss of $60.1 million, while liquidity stood at $143 million and management believes cash will cover working-capital and capital-expenditure needs for at least the next 12 months. TMC will not seek to extend the 15 million public SPAC warrants, and it is deferring other capital-market transactions while confidential government-funding discussions continue.
• TMC reiterated the substantial estimated economics of its resource, citing combined project NPVs of $23.6 billion, approximately $369 billion of potential lifetime revenue, and more than $200 billion of EBITDA based on its technical studies, though these remain project estimates subject to permitting, financing, construction, and execution risks.

TMC the metals Stock Performance

NASDAQ TMC traded down $0.40 on Friday, reaching $4.01. The stock had a trading volume of 9,258,938 shares, compared to its average volume of 4,227,957. The stock has a market cap of $1.74 billion, a P/E ratio of -5.49 and a beta of 2.06. TMC the metals has a 12-month low of $3.40 and a 12-month high of $11.35. The business’s 50-day moving average price is $4.31 and its 200 day moving average price is $5.22.

Insider Activity at TMC the metals

In related news, Director Brendan May sold 20,768 shares of the company’s stock in a transaction 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 owned 193,346 shares in the company, valued at $1,241,281.32. This represents a 9.70% decrease in their position. The transaction was disclosed in a document filed 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. 28.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. acquired a new position in TMC the metals in the 1st quarter valued at $211,000. Geode Capital Management LLC increased its stake in shares of TMC the metals by 79.6% during the second quarter. Geode Capital Management LLC now owns 330,823 shares of the company’s stock worth $2,183,000 after acquiring an additional 146,650 shares during the period. Creative Planning acquired a new position in shares of TMC the metals during the second quarter worth about $76,000. Cetera Investment Advisers purchased a new position in TMC the metals during the second quarter worth about $168,000. Finally, Quantbot Technologies LP purchased a new position in TMC the metals during the second quarter worth about $48,000. Institutional investors and hedge funds own 4.39% of the company’s stock.

TMC the metals News Roundup

Here are the key news stories impacting TMC the metals this week:

• Positive Sentiment: TMC reaffirmed an ambitious target for a system capable of producing approximately 3 million wet tonnes annually, supporting the company’s long-term growth case if it can secure approvals and execute commercially. TMC targets 3M wet tonnes/year system as NOAA timing shifts to October 2026 certification
• Positive Sentiment: The company continues to position its polymetallic-nodule resource as a potentially significant source of nickel, copper, cobalt and manganese—metals used in energy, defense, manufacturing and infrastructure. That gives TMC considerable upside if its regulatory and commercial plans succeed. TMC Provides Second Quarter 2026 Corporate Update
• Neutral Sentiment: Regulatory progress remains the central catalyst. NOAA certification timing has shifted to October 2026, keeping the pathway alive but extending the wait before investors receive greater clarity on project approval and timing. TMC regulatory pathways update
• Negative Sentiment: TMC reported a second-quarter loss of $0.14 per share, missing the $0.06-per-share consensus loss estimate by $0.08. The earnings shortfall reinforces concerns about ongoing cash needs and the absence of current operating revenue. TMC second-quarter earnings results
• Negative Sentiment: A comparison with MP Materials concluded that TMC offers greater potential upside but substantially higher execution and regulatory risk, while MP has the advantage of an established commercial operating path. This framing may pressure TMC as investors favor nearer-term critical-minerals producers. MP Materials vs. The Metals Company

Wall Street Analysts Forecast Growth

TMC has been the subject of several analyst reports. Wedbush boosted their price target 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. Wall Street Zen upgraded shares of TMC the metals from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. HC Wainwright reissued a “buy” rating and issued a $11.75 target price on shares of TMC the metals in a report on Tuesday, June 2nd. Maxim Group started coverage on TMC the metals in a research note on Thursday, June 4th. They issued a “buy” rating and a $10.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TMC the metals in a report on Friday, July 17th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $10.58.

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.