TMC the metals (NASDAQ:TMC) Upgraded at Stifel Nicolaus

TMC the metals (NASDAQ:TMC) was upgraded by equities research analysts at Stifel Nicolaus to a “strong-buy” rating in a note issued to investors on Thursday,Zacks.com reports.

Other research analysts have also recently issued reports about the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of TMC the metals in a research note on Friday, July 17th. Wedbush upped their target price on TMC the metals from $8.00 to $10.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. HC Wainwright reiterated a “buy” rating and set a $11.75 target price on shares of TMC the metals in a report on Tuesday, June 2nd. Maxim Group assumed coverage on TMC the metals in a research report on Thursday, June 4th. They set a “buy” rating and a $10.00 price target for the company. Finally, Wall Street Zen raised TMC the metals from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.44.

TMC the metals Stock Down 5.5%

Shares of TMC stock opened at $4.81 on Thursday. The stock has a market cap of $2.12 billion, a P/E ratio of -6.59 and a beta of 2.06. TMC the metals has a fifty-two week low of $3.40 and a fifty-two week high of $11.35. The business has a fifty day simple moving average of $4.19 and a 200-day simple moving average of $5.04.

TMC the metals (NASDAQ:TMC) last issued 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, sell-side analysts anticipate that TMC the metals will post -0.32 earnings per share for the current year.

Insider Transactions at TMC the metals

In related news, Director Brendan May sold 20,768 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $6.42, for a total transaction of $133,330.56. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 Inflows and Outflows

Large investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. purchased a new stake in shares of TMC the metals in the first quarter valued at $211,000. Geode Capital Management LLC lifted its position in TMC the metals by 79.6% during the second quarter. Geode Capital Management LLC now owns 330,823 shares of the company’s stock worth $2,183,000 after buying an additional 146,650 shares during the period. Creative Planning acquired a new stake in TMC the metals in the 2nd quarter worth about $76,000. Cetera Investment Advisers acquired a new stake in TMC the metals in the 2nd quarter worth about $168,000. Finally, Quantbot Technologies LP purchased a new stake in TMC the metals in the 2nd quarter valued at about $48,000. 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. 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.