TMC the metals company Inc. (NASDAQ:TMC) Stock Has Average Price Target of $10.44 According to Brokerages

Shares of TMC the metals company Inc. (NASDAQ:TMC) have been assigned an average recommendation of “Moderate Buy” from the six analysts that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $10.44.

TMC has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of TMC the metals in a research report on Friday, July 17th. Zacks Research downgraded shares of TMC the metals from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Finally, Stifel Nicolaus initiated coverage on TMC the metals in a report on Friday, August 28th. They issued a “buy” rating and a $10.00 target price on the stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd purchased a new stake in shares of TMC the metals during the 4th quarter worth approximately $33,000. GK Wealth Management LLC purchased a new position in shares of TMC the metals in the 3rd quarter valued at $29,000. Main Street Research LLC purchased a new position in shares of TMC the metals in the 1st quarter valued at $47,000. Coastal Bridge Advisors LLC acquired a new stake in TMC the metals during the 2nd quarter worth $44,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in TMC the metals during the 2nd quarter worth $44,000. 4.39% of the stock is owned by institutional investors and hedge funds.

TMC the metals Price Performance

TMC stock opened at $3.36 on Wednesday. The business’s 50-day moving average is $4.14 and its two-hundred day moving average is $4.60. The firm has a market capitalization of $1.48 billion, a P/E ratio of -4.60 and a beta of 1.91. TMC the metals has a 1 year low of $3.31 and a 1 year high of $11.35.

TMC the metals (NASDAQ:TMC) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.08). On average, analysts expect that TMC the metals will post -0.33 EPS for the current year.

TMC the metals Company Profile

TMC the metals company is a mineral exploration and development company focused on collecting polymetallic nodules from the seafloor. These potato-sized rocks contain nickel, copper, cobalt and manganese, metals used in rechargeable batteries, electric vehicles and other energy-transition technologies.

The company’s activities center on nodule resources in the Clarion-Clipperton Zone of the Pacific Ocean, an area between Mexico and Hawaii. TMC is developing technologies and operating plans for seafloor nodule collection, transport and processing, with the goal of producing battery metals while limiting some of the land disturbance associated with conventional mining.