TMC the metals (NASDAQ:TMC) Coverage Initiated at Stifel Nicolaus

Stifel Nicolaus started coverage on shares of TMC the metals (NASDAQ:TMC) in a report released on Friday. The firm set a “buy” rating and a $10.00 price target on the stock. Stifel Nicolaus’ price objective suggests a potential upside of 96.46% from the company’s current price.

Other research analysts have also issued reports about the company. Maxim Group started coverage on TMC the metals in a research report on Thursday, June 4th. They issued a “buy” rating and a $10.00 price objective for the company. Wall Street Zen upgraded TMC the metals from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TMC the metals in a research note on Friday, July 17th. Wedbush lifted their target price on TMC the metals from $8.00 to $10.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Finally, HC Wainwright reissued a “buy” rating and issued a $11.75 price target on shares of TMC the metals in a research note on Tuesday, June 2nd. Four 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 company. Based on data from MarketBeat, TMC the metals presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.44.

TMC the metals Stock Performance

Shares of NASDAQ TMC opened at $5.09 on Friday. The company’s 50 day moving average price is $4.19 and its 200-day moving average price is $5.04. TMC the metals has a 52-week low of $3.40 and a 52-week high of $11.35. The company has a market capitalization of $2.25 billion, a P/E ratio of -6.97 and a beta of 2.06.

TMC the metals (NASDAQ:TMC) last posted 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). Analysts forecast that TMC the metals will post -0.32 earnings per share for the current year.

Insider Transactions at TMC the metals

In other TMC the metals news, Director Brendan May sold 20,768 shares of the firm’s stock in a transaction that occurred 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 owned 193,346 shares of the company’s stock, 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 legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 28.50% of the company’s stock.

Institutional Investors Weigh In On TMC the metals

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