TMC the metals (NASDAQ:TMC) Trading 12.4% Higher – What’s Next?

TMC the metals company Inc. (NASDAQ:TMC) shares traded up 12.4% during trading on Tuesday . The stock traded as high as $7.22 and last traded at $7.06. 3,364,124 shares traded hands during mid-day trading, a decline of 61% from the average session volume of 8,712,223 shares. The stock had previously closed at $6.28.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on TMC shares. Weiss Ratings restated a “sell (d-)” rating on shares of TMC the metals in a research note on Wednesday, October 8th. HC Wainwright upped their price target on shares of TMC the metals from $7.25 to $7.50 and gave the stock a “buy” rating in a research note on Friday, November 14th. Finally, Zacks Research upgraded shares of TMC the metals from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 13th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, TMC the metals has an average rating of “Hold” and a consensus price target of $7.42.

TMC the metals Stock Up 14.3%

The company has a market cap of $2.97 billion, a price-to-earnings ratio of -9.32 and a beta of 1.82. The company has a fifty day simple moving average of $6.87 and a two-hundred day simple moving average of $6.10.

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

Insider Transactions at TMC the metals

In other TMC the metals news, insider Erika Ilves sold 1,591,485 shares of the company’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $5.77, for a total value of $9,182,868.45. Following the sale, the insider owned 1,145,792 shares of the company’s stock, valued at $6,611,219.84. This represents a 58.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 27.60% of the company’s stock.

Institutional Investors Weigh In On TMC the metals

A number of institutional investors and hedge funds have recently bought and sold shares of TMC. Old West Investment Management LLC increased its position in TMC the metals by 100.0% during the first quarter. Old West Investment Management LLC now owns 4,270,076 shares of the company’s stock worth $7,345,000 after buying an additional 2,135,038 shares in the last quarter. Baird Financial Group Inc. lifted its position in shares of TMC the metals by 35.1% in the first quarter. Baird Financial Group Inc. now owns 2,946,027 shares of the company’s stock valued at $5,067,000 after acquiring an additional 766,167 shares in the last quarter. Jump Financial LLC acquired a new stake in shares of TMC the metals during the second quarter valued at $6,216,000. UBS Group AG increased its position in TMC the metals by 869.6% during the 3rd quarter. UBS Group AG now owns 630,757 shares of the company’s stock worth $4,018,000 after purchasing an additional 712,717 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in TMC the metals by 18.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 562,168 shares of the company’s stock worth $3,581,000 after purchasing an additional 87,437 shares in the last quarter. Hedge funds and other institutional investors own 4.39% of the company’s stock.

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.