TMC the metals company Inc. (NASDAQ:TMC) Given Consensus Recommendation of “Hold” by Brokerages

Shares of TMC the metals company Inc. (NASDAQ:TMC) have received an average rating of “Hold” from the five research firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $10.5833.

TMC has been the subject of a number of research analyst reports. Wedbush lifted 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. Wall Street Zen raised TMC the metals from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of TMC the metals in a research note on Friday, July 17th. HC Wainwright restated a “buy” rating and issued a $11.75 price target on shares of TMC the metals in a research note on Tuesday, June 2nd. Finally, Maxim Group assumed coverage on TMC the metals in a report on Thursday, June 4th. They set a “buy” rating and a $10.00 price target for the company.

TMC the metals Price Performance

Shares of TMC stock opened at $3.77 on Tuesday. The stock has a market cap of $1.63 billion, a P/E ratio of -5.16 and a beta of 2.06. The company has a fifty day moving average price of $4.29 and a two-hundred day moving average price of $5.17. TMC the metals has a one year low of $3.40 and a one year high of $11.35.

TMC the metals (NASDAQ:TMC) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.08). As a group, equities research analysts anticipate that TMC the metals will post -0.31 EPS for the current fiscal year.

Insider Buying and Selling at TMC the metals

In other news, Director Brendan May sold 20,768 shares of the firm’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 in the company, valued at approximately $1,241,281.32. This trade represents a 9.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed 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 owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC raised its holdings in TMC the metals by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 371,142 shares of the company’s stock valued at $2,288,000 after acquiring an additional 1,566 shares during the period. NewEdge Advisors LLC bought a new stake in shares of TMC the metals during the second quarter worth approximately $28,000. Osterweis Capital Management Inc. bought a new stake in shares of TMC the metals during the fourth quarter worth approximately $29,000. Farther Finance Advisors LLC grew its position in shares of TMC the metals by 465.8% in the fourth quarter. Farther Finance Advisors LLC now owns 5,686 shares of the company’s stock valued at $35,000 after purchasing an additional 4,681 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of TMC the metals in the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 4.39% of the company’s stock.

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.