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

TMC the metals company Inc. (NASDAQ:TMC) has received an average rating of “Hold” from the five ratings firms that are covering the stock, Marketbeat reports. One 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 covered the stock in the last year is $7.4167.

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

Insider Transactions at TMC the metals

In other news, insider Anthony O’sullivan sold 50,000 shares of the business’s stock in a transaction dated 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 in the company, valued at $13,713,765.59. The trade was a 2.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 27.60% of the company’s stock.

Institutional Trading of TMC the metals

A number of institutional investors have recently bought and sold shares of TMC. Jump Financial LLC purchased a new stake in shares of TMC the metals in the 2nd quarter worth about $6,216,000. UBS Group AG increased its holdings in TMC the metals by 869.6% during the 3rd quarter. UBS Group AG now owns 630,757 shares of the company’s stock valued at $4,018,000 after acquiring an additional 712,717 shares in the last quarter. Old West Investment Management LLC raised its position in TMC the metals by 49.6% during the third quarter. Old West Investment Management LLC now owns 1,997,238 shares of the company’s stock worth $12,722,000 after acquiring an additional 662,200 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of TMC the metals in the second quarter valued at about $3,133,000. Finally, Swiss National Bank acquired a new stake in shares of TMC the metals in the second quarter valued at approximately $2,940,000. 4.39% of the stock is currently owned by hedge funds and other institutional investors.

TMC the metals Price Performance

NASDAQ TMC opened at $7.32 on Friday. The firm’s fifty day moving average price is $6.56 and its 200 day moving average price is $6.55. TMC the metals has a 12 month low of $1.02 and a 12 month high of $11.35. The company has a market capitalization of $3.03 billion, a price-to-earnings ratio of -9.51 and a beta of 1.85.

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

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.