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

Wedbush reissued their outperform rating on shares of TMC the metals (NASDAQ:TMC) in a research report sent to investors on Monday morning, Marketbeat.com reports. The firm currently has a $8.00 price target on the stock.

A number of other analysts have also issued reports on TMC. Weiss Ratings restated a “sell (d-)” rating on shares of TMC the metals in a report on Wednesday, January 21st. HC Wainwright increased their price objective on TMC the metals from $7.50 to $11.75 and gave the stock 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, TMC the metals currently has an average rating of “Hold” and an average price target of $9.88.

TMC the metals Stock Up 7.5%

TMC opened at $5.74 on Monday. The stock has a fifty day moving average of $5.47 and a 200-day moving average of $6.52. The firm has a market capitalization of $2.49 billion, a P/E ratio of -7.17 and a beta of 2.00. TMC the metals has a 12-month low of $2.32 and a 12-month high of $11.35.

Institutional Trading of TMC the metals

Several hedge funds and other institutional investors have recently modified their holdings of TMC. Encompass Capital Advisors LLC purchased a new stake in shares of TMC the metals during the fourth quarter worth $18,510,000. UBS Group AG increased its position in TMC the metals by 869.6% during the third quarter. UBS Group AG now owns 630,757 shares of the company’s stock worth $4,018,000 after buying an additional 712,717 shares during the last quarter. Old West Investment Management LLC increased 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 buying an additional 662,200 shares during the last quarter. Goldman Sachs Group Inc. increased its position in TMC the metals by 234.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 678,540 shares of the company’s stock worth $4,187,000 after buying an additional 475,464 shares during the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in TMC the metals during the second quarter worth $3,133,000. 4.39% of the stock is currently owned by hedge funds and other institutional investors.

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.