Analysts Set TMC the metals company Inc. (NASDAQ:TMC) PT at $7.42

TMC the metals company Inc. (NASDAQ:TMC) has been given a consensus rating of “Hold” by the five brokerages that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $7.4167.

TMC has been the subject of a number of research reports. HC Wainwright increased their price target on shares of TMC the metals from $7.25 to $7.50 and gave the stock a “buy” rating in a research note on Friday, November 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of TMC the metals in a research report on Wednesday, October 8th. Finally, Zacks Research upgraded TMC the metals from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 13th.

TMC the metals Stock Performance

Shares of TMC stock opened at $7.89 on Wednesday. TMC the metals has a fifty-two week low of $0.73 and a fifty-two week high of $11.35. The firm has a market cap of $3.26 billion, a P/E ratio of -10.25 and a beta of 1.82. The business’s 50 day moving average price is $6.83 and its 200-day moving average price is $6.35.

TMC the metals (NASDAQ:TMC) last issued its quarterly earnings data on Thursday, November 13th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.08). As a group, equities analysts predict that TMC the metals will post -0.22 EPS for the current year.

Insiders Place Their Bets

In other TMC the metals news, insider Erika Ilves sold 1,591,485 shares of the company’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $5.77, for a total value of $9,182,868.45. Following the sale, the insider owned 1,145,792 shares in the company, valued at approximately $6,611,219.84. This represents a 58.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Anthony O’sullivan sold 50,000 shares of the firm’s 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 transaction, the insider directly owned 2,025,667 shares of the company’s stock, valued at $13,713,765.59. This represents a 2.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 1,691,485 shares of company stock worth $9,846,868. Company insiders own 27.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in TMC. Old West Investment Management LLC boosted its holdings in shares of TMC the metals by 100.0% during the 1st quarter. Old West Investment Management LLC now owns 4,270,076 shares of the company’s stock valued at $7,345,000 after acquiring an additional 2,135,038 shares during the last quarter. Baird Financial Group Inc. lifted its position in TMC the metals by 35.1% during the first quarter. Baird Financial Group Inc. now owns 2,946,027 shares of the company’s stock valued at $5,067,000 after purchasing an additional 766,167 shares during the period. Jump Financial LLC bought a new position in TMC the metals during the second quarter valued at approximately $6,216,000. UBS Group AG boosted its holdings in TMC the metals by 869.6% in the third quarter. UBS Group AG now owns 630,757 shares of the company’s stock worth $4,018,000 after purchasing an additional 712,717 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in TMC the metals by 18.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 562,168 shares of the company’s stock worth $3,581,000 after purchasing an additional 87,437 shares during the period. 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.