TMC the metals (NASDAQ:TMC) Price Target Lowered to $8.00 at Wedbush

TMC the metals (NASDAQ:TMC) had its target price reduced by Wedbush from $11.00 to $8.00 in a research note published on Tuesday morning,Benzinga reports. They currently have an outperform rating on the stock.

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

TMC the metals Trading Up 13.9%

Shares of NASDAQ:TMC opened at $4.67 on Tuesday. The stock has a 50 day moving average of $6.24 and a 200 day moving average of $6.67. The company has a market cap of $1.93 billion, a PE ratio of -5.84 and a beta of 1.87. TMC the metals has a 12-month low of $1.57 and a 12-month high of $11.35.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TMC. Swiss National Bank purchased a new stake in TMC the metals during the 2nd quarter valued at approximately $2,940,000. Mirador Capital Partners LP lifted its holdings in shares of TMC the metals by 306.1% in the third quarter. Mirador Capital Partners LP now owns 449,990 shares of the company’s stock worth $2,866,000 after buying an additional 339,174 shares in the last quarter. Quantbot Technologies LP boosted its position in shares of TMC the metals by 2,615.8% during the third quarter. Quantbot Technologies LP now owns 195,971 shares of the company’s stock worth $1,248,000 after acquiring an additional 188,755 shares during the last quarter. Mutual Advisors LLC bought a new position in shares of TMC the metals during the third quarter worth $1,390,000. Finally, Old West Investment Management LLC grew its stake 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 valued at $12,722,000 after acquiring an additional 662,200 shares in the last quarter. 4.39% of the stock is owned by hedge funds and other institutional investors.

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.