TMC the metals (NASDAQ:TMC) Research Coverage Started at Stifel Nicolaus

Stifel Nicolaus initiated coverage on shares of TMC the metals (NASDAQ:TMC) in a research note published on Friday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $10.00 price objective on the stock.

Several other research firms have also issued reports on TMC. Wall Street Zen raised shares of TMC the metals from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. HC Wainwright restated a “buy” rating and set a $11.75 target price on shares of TMC the metals in a research report on Tuesday, June 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of TMC the metals in a research note on Friday, July 17th. Maxim Group started coverage on TMC the metals in a report on Thursday, June 4th. They issued a “buy” rating and a $10.00 price target for the company. Finally, Wedbush increased their price target on TMC the metals from $8.00 to $10.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $10.44.

TMC the metals Price Performance

TMC opened at $4.81 on Friday. The firm has a fifty day moving average price of $4.19 and a 200 day moving average price of $5.03. TMC the metals has a 1 year low of $3.40 and a 1 year high of $11.35. The stock has a market cap of $2.12 billion, a P/E ratio of -6.59 and a beta of 2.06.

TMC the metals (NASDAQ:TMC) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.08). Equities analysts expect that TMC the metals will post -0.32 EPS for the current year.

Insiders Place Their Bets

In related news, Director Brendan May sold 20,768 shares of the company’s stock in a transaction dated 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 sale, the director owned 193,346 shares of the company’s stock, valued at approximately $1,241,281.32. This represents a 9.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 28.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of TMC. Goldman Sachs Group Inc. purchased a new stake in shares of TMC the metals in the first quarter valued at approximately $211,000. Geode Capital Management LLC increased its holdings in shares of TMC the metals by 79.6% in the second 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 TMC the metals during the second quarter worth approximately $76,000. Cetera Investment Advisers purchased a new position in TMC the metals during the second quarter worth approximately $168,000. Finally, Quantbot Technologies LP purchased a new position in TMC the metals during the second quarter worth approximately $48,000. 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.