Analysts Set TMC the metals company Inc. (NASDAQ:TMC) PT at $7.42

TMC the metals company Inc. (NASDAQ:TMC) has earned an average rating of “Hold” from the four ratings firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $9.25.

A number of analysts recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of TMC the metals in a research report on Wednesday, October 8th. Zacks Research raised TMC the metals from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 13th. Finally, HC Wainwright increased their price target on TMC the metals from $7.25 to $7.50 and gave the stock a “buy” rating in a report on Friday, November 14th.

Insiders Place Their Bets

In other TMC the metals news, insider Anthony O’sullivan sold 50,000 shares of the stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $6.77, for a total value of $338,500.00. Following the sale, the insider owned 2,025,667 shares in the company, valued at $13,713,765.59. This trade represents a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 27.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On TMC the metals

Several hedge funds have recently made changes to their positions in the company. NewEdge Advisors LLC purchased a new position in shares of TMC the metals during the second quarter valued at $28,000. Wolverine Asset Management LLC increased its position in TMC the metals by 752.6% during the 2nd quarter. Wolverine Asset Management LLC now owns 4,945 shares of the company’s stock valued at $33,000 after purchasing an additional 4,365 shares during the period. Sunbelt Securities Inc. purchased a new position in TMC the metals during the 3rd quarter valued at about $34,000. KBC Group NV bought a new stake in shares of TMC the metals in the 2nd quarter valued at about $37,000. Finally, Quantbot Technologies LP bought a new stake in shares of TMC the metals in the 2nd quarter valued at about $48,000. 4.39% of the stock is currently owned by hedge funds and other institutional investors.

TMC the metals Stock Down 1.9%

NASDAQ TMC opened at $7.24 on Friday. TMC the metals has a 52 week low of $1.33 and a 52 week high of $11.35. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of -9.40 and a beta of 1.85. The company has a fifty day moving average of $6.67 and a two-hundred day moving average of $6.57.

TMC the metals (NASDAQ:TMC) last announced its earnings results on Thursday, November 13th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.08). Equities research analysts anticipate that TMC the metals will post -0.22 EPS for the current year.

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.