TMC the metals (NASDAQ:TMC – Get Free Report)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $11.75 price objective on the stock. HC Wainwright’s price target would suggest a potential upside of 81.72% from the stock’s current price.
Other equities analysts have also issued research reports about the company. Weiss Ratings restated a “sell (d-)” rating on shares of TMC the metals in a research note on Monday, April 20th. Wedbush upped their price objective on shares of TMC the metals from $8.00 to $10.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. Finally, Wall Street Zen raised shares of TMC the metals from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, TMC the metals has an average rating of “Hold” and an average target price of $10.88.
Read Our Latest Analysis on TMC the metals
TMC the metals Stock Performance
TMC the metals (NASDAQ:TMC – Get Free Report) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. As a group, analysts predict that TMC the metals will post -0.31 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. acquired a new position in shares of TMC the metals during the 1st quarter valued at about $211,000. Geode Capital Management LLC lifted its stake in shares of TMC the metals by 79.6% in the 2nd quarter. Geode Capital Management LLC now owns 330,823 shares of the company’s stock valued at $2,183,000 after purchasing an additional 146,650 shares during the last quarter. Creative Planning purchased a new position in shares of TMC the metals during the 2nd quarter worth $76,000. Cetera Investment Advisers acquired a new stake in shares of TMC the metals during the 2nd quarter worth about $168,000. Finally, Quantbot Technologies LP purchased a new stake in TMC the metals in the 2nd quarter valued at about $48,000. Hedge funds and other institutional investors own 4.39% of the company’s stock.
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.
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