TMC the metals (NASDAQ:TMC) Raised to “Hold” at Zacks Research

TMC the metals (NASDAQ:TMC) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Wednesday, Zacks reports.

A number of other analysts also recently weighed in on TMC. Stifel Nicolaus assumed coverage on shares of TMC the metals in a research report on Friday, August 28th. They issued a “buy” rating and a $10.00 target price on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of TMC the metals in a research note on Thursday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $10.44.

TMC the metals Trading Down 10.4%

Shares of NASDAQ TMC opened at $2.07 on Wednesday. The firm has a fifty day simple moving average of $3.48 and a two-hundred day simple moving average of $4.82. TMC the metals has a 12 month low of $1.91 and a 12 month high of $10.05. The firm has a market capitalization of $913.15 million, a PE ratio of -2.84 and a beta of 2.22.

TMC the metals (NASDAQ:TMC) last announced its earnings results on Thursday, August 13th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.08). On average, sell-side analysts predict that TMC the metals will post -0.38 earnings per share for the current year.

Hedge Funds Weigh In On TMC the metals

Several large investors have recently made changes to their positions in TMC. Arizona State Retirement System boosted its stake in TMC the metals by 5.2% during the second quarter. Arizona State Retirement System now owns 59,765 shares of the company’s stock valued at $265,000 after buying an additional 2,977 shares during the last quarter. Tidal Investments LLC increased its position in TMC the metals by 39.0% during the second quarter. Tidal Investments LLC now owns 17,560 shares of the company’s stock valued at $78,000 after acquiring an additional 4,928 shares during the last quarter. SBI Securities Co. Ltd. raised its position in TMC the metals by 52.2% in the 3rd quarter. SBI Securities Co. Ltd. now owns 14,519 shares of the company’s stock worth $56,000 after purchasing an additional 4,980 shares during the period. Amundi raised its holdings in shares of TMC the metals by 13.3% in the first quarter. Amundi now owns 44,186 shares of the company’s stock worth $206,000 after buying an additional 5,202 shares during the period. Finally, Money Concepts Capital Corp increased its stake in TMC the metals by 58.0% in the first quarter. Money Concepts Capital Corp now owns 17,377 shares of the company’s stock worth $81,000 after purchasing an additional 6,377 shares during the period. 4.39% of the stock is currently owned by hedge funds and other institutional investors.

TMC the metals Company Profile

TMC the metals company Inc, formerly known as DeepGreen Metals, is a deep-sea minerals exploration and development company. The company is focused on polymetallic nodules, mineral-rich rocks found on the seafloor that contain nickel, copper, cobalt and manganese—metals used in batteries, renewable energy systems and other industrial applications.

Through its subsidiaries, including Nauru Ocean Resources Inc (NORI), TMC holds exploration interests in the Clarion-Clipperton Zone, an area of the Pacific Ocean between Hawaii and Mexico.