Shares of TMC the metals company Inc. (NASDAQ:TMC – Get Free Report) have received a consensus rating of “Hold” from the five research firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $10.5833.
TMC has been the subject of several recent analyst reports. Wall Street Zen upgraded TMC the metals from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Maxim Group initiated coverage on TMC the metals in a research report on Thursday, June 4th. They issued a “buy” rating and a $10.00 price target on the stock. Wedbush upped their price target on TMC the metals from $8.00 to $10.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. HC Wainwright reissued a “buy” rating and issued a $11.75 price objective on shares of TMC the metals in a research report on Tuesday, June 2nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of TMC the metals in a research note on Friday, July 17th.
Check Out Our Latest Report on TMC the metals
TMC the metals Price Performance
TMC the metals (NASDAQ:TMC – Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.08). Analysts anticipate that TMC the metals will post -0.32 earnings per share for the current year.
Insider Buying and Selling
In related news, Director Brendan May sold 20,768 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $6.42, for a total transaction of $133,330.56. Following the completion of the transaction, the director directly owned 193,346 shares in the company, valued at $1,241,281.32. This represents a 9.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 28.50% of the stock is currently owned by insiders.
Institutional Trading of TMC the metals
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC raised its position in shares of TMC the metals by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 371,142 shares of the company’s stock valued at $2,288,000 after buying an additional 1,566 shares during the last quarter. NewEdge Advisors LLC bought a new stake in shares of TMC the metals in the second quarter valued at about $28,000. Osterweis Capital Management Inc. acquired a new stake in TMC the metals during the fourth quarter worth about $29,000. Farther Finance Advisors LLC grew its position in TMC the metals by 465.8% during the fourth quarter. Farther Finance Advisors LLC now owns 5,686 shares of the company’s stock worth $35,000 after buying an additional 4,681 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in TMC the metals during the fourth quarter valued at about $29,000. 4.39% of the stock is currently owned by institutional investors and hedge funds.
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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