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

Shares of TMC the metals company Inc. (NASDAQ:TMC) have earned an average rating of “Hold” from the five ratings firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $10.5833.

Several brokerages have weighed in 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 reissued a “buy” rating and issued a $11.75 target price on shares of TMC the metals in a report on Tuesday, June 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of TMC the metals in a report on Friday, July 17th. 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. Finally, Maxim Group initiated 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 Stock Performance

Shares of NASDAQ:TMC opened at $3.81 on Friday. The company’s fifty day moving average is $4.84 and its 200-day moving average is $5.61. TMC the metals has a 52 week low of $3.57 and a 52 week high of $11.35. The company has a market capitalization of $1.65 billion, a PE ratio of -4.82 and a beta of 2.03.

TMC the metals (NASDAQ:TMC) last announced its earnings results on Thursday, May 14th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. On average, analysts forecast that TMC the metals will post -0.31 EPS for the current 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 on Tuesday, June 2nd. The stock was sold at an average price of $6.42, for a total value of $133,330.56. Following the completion of the sale, the director directly owned 193,346 shares in the company, valued at approximately $1,241,281.32. This trade represents a 9.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 28.50% of the company’s stock.

Institutional Investors Weigh In On TMC the metals

A number of hedge funds have recently added to or reduced their stakes in TMC. NewEdge Advisors LLC acquired a new stake in TMC the metals in the 2nd quarter valued at about $28,000. Osterweis Capital Management Inc. acquired a new position in shares of TMC the metals during the fourth quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of TMC the metals during the fourth quarter worth approximately $29,000. Sunbelt Securities Inc. bought a new stake in shares of TMC the metals during the third quarter valued at approximately $34,000. Finally, Farther Finance Advisors LLC grew its stake in shares of TMC the metals by 465.8% during 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. 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. 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.