TMC the metals’ (TMC) “Outperform” Rating Reaffirmed at Wedbush

Wedbush reissued their outperform rating on shares of TMC the metals (NASDAQ:TMC) in a research note released on Monday morning,Benzinga reports. They currently have a $8.00 price target on the stock.

A number of other research firms also recently weighed in on TMC. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TMC the metals in a research report on Wednesday, January 21st. HC Wainwright lifted their price objective on shares of TMC the metals from $7.50 to $11.75 and gave the company a “buy” rating in a report on Friday, January 23rd. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $9.88.

TMC the metals Price Performance

TMC stock opened at $5.66 on Monday. The stock has a market capitalization of $2.45 billion, a P/E ratio of -7.07 and a beta of 2.00. TMC the metals has a fifty-two week low of $2.22 and a fifty-two week high of $11.35. The business has a 50-day moving average of $5.51 and a 200-day moving average of $6.54.

Institutional Trading of TMC the metals

Institutional investors and hedge funds have recently bought and sold shares of the stock. NewEdge Advisors LLC bought a new position in TMC the metals in the second quarter valued at approximately $28,000. Osterweis Capital Management Inc. bought a new stake in shares of TMC the metals during the 4th quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of TMC the metals during the 4th quarter worth approximately $29,000. Sunbelt Securities Inc. acquired a new stake in shares of TMC the metals in the 3rd quarter valued at approximately $34,000. Finally, Farther Finance Advisors LLC boosted its holdings in shares of TMC the metals by 465.8% in the 4th quarter. Farther Finance Advisors LLC now owns 5,686 shares of the company’s stock valued at $35,000 after buying an additional 4,681 shares during the last quarter. 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.