Wedbush Weighs in on TMC the metals company Inc.’s Q2 2022 Earnings (NASDAQ:TMC)

TMC the metals company Inc. (NASDAQ:TMC – Get Rating) – Equities research analysts at Wedbush lowered their Q2 2022 earnings per share estimates for TMC the metals in a research note issued to investors on Wednesday, May 11th. Wedbush analyst D. Ives now anticipates that the company will earn ($0.11) per share for the quarter, down from their prior forecast of ($0.10). Wedbush also issued estimates for TMC the metals’ FY2025 earnings at ($0.53) EPS and FY2026 earnings at ($0.43) EPS.

NASDAQ:TMC opened at $1.30 on Friday. The company has a 50-day moving average of $2.04 and a 200 day moving average of $2.13. TMC the metals has a 1-year low of $1.12 and a 1-year high of $15.39.

A number of large investors have recently modified their holdings of TMC. Penserra Capital Management LLC purchased a new stake in TMC the metals in the 3rd quarter worth approximately $38,000. National Asset Management Inc. purchased a new stake in TMC the metals in the 3rd quarter worth approximately $48,000. Cetera Investment Advisers purchased a new stake in TMC the metals in the 3rd quarter worth approximately $55,000. Walleye Capital LLC purchased a new stake in TMC the metals in the 4th quarter worth approximately $27,000. Finally, Baird Financial Group Inc. purchased a new stake in TMC the metals in the 4th quarter worth approximately $33,000. Institutional investors own 34.01% of the company’s stock.

In related news, Director Andrew Hall acquired 28,000 shares of the business’s stock in a transaction dated Wednesday, March 30th. The shares were purchased at an average price of $2.13 per share, for a total transaction of $59,640.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Craig Shesky purchased 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 30th. The stock was acquired at an average price of $1.80 per share, for a total transaction of $27,000.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 66,000 shares of company stock worth $137,010. Corporate insiders own 30.20% of the company’s stock.

TMC the metals Company Profile (Get Rating)

TMC the metals company Inc engages in the exploration of battery-grade metals. It primarily explores for nickel sulfate, cobalt sulfate, copper, and manganese products. The company, through its subsidiaries, holds exploration rights in three polymetallic nodule contract areas in the Clarion Clipperton Zone of the Pacific Ocean.

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