TMC the metals (NASDAQ:TMC) Stock Price Target Lowered at HC Wainwright

TMC the metals (NASDAQ:TMC) had its price target decreased by HC Wainwright from $11.75 to $5.50 in a research report report published on Friday,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Several other analysts have also weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TMC the metals in a report on Thursday, October 15th. Zacks Research raised TMC the metals from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 4th. Finally, Stifel Nicolaus initiated coverage on TMC the metals in a research report on Friday, August 28th. They issued a “buy” rating and a $10.00 price target on the stock. One 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 assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $8.88.

TMC the metals Stock Up 0.4%

TMC opened at $2.31 on Friday. The firm has a market capitalization of $1.02 billion, a P/E ratio of -7.00 and a beta of 2.22. The stock has a fifty day moving average of $3.21 and a 200-day moving average of $4.64. TMC the metals has a 12-month low of $1.91 and a 12-month high of $10.05.

TMC the metals (NASDAQ:TMC) last issued its earnings results on Thursday, November 12th. The company reported ($0.06) earnings per share for the quarter, hitting the consensus estimate of ($0.06). On average, analysts expect that TMC the metals will post -0.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TMC the metals

Several institutional investors and hedge funds have recently modified their holdings of TMC. GK Wealth Management LLC acquired a new stake in shares of TMC the metals in the 3rd quarter valued at about $29,000. Coastal Bridge Advisors LLC bought a new stake in TMC the metals in the 2nd quarter valued at approximately $44,000. Northwestern Mutual Wealth Management Co. acquired a new position in TMC the metals during the 2nd quarter worth approximately $44,000. Consolidated Capital Management LLC acquired a new position in TMC the metals during the 3rd quarter worth approximately $38,000. Finally, Lazari Capital Management Inc. bought a new position in shares of TMC the metals during the 3rd quarter worth approximately $38,000. 4.39% of the stock is currently owned by institutional investors and hedge funds.

Recent TMC the metals Headlines

Investors following TMC have been watching these headlines:

• Positive Sentiment: HC Wainwright maintained a Buy rating and sees substantial potential upside from the recent share price, although it cut its price target sharply from $11.75 to $5.50. HC Wainwright rating and price target
• Positive Sentiment: Third-quarter results showed a loss of $0.06 per share, in line with the consensus estimate and better than FactSet’s forecast loss of $0.07; reports also described the quarterly loss as narrower. TMC reported approximately $123 million in available liquidity. TMC Q3 loss narrows
• Neutral Sentiment: TMC says its applications are progressing through NOAA review, but the agency now expects to make a determination on certification by mid-December, later than previously expected. The review includes more than 1,600 public comments. TMC Q3 corporate update

TMC the metals Company Profile

TMC the metals company Inc. is a deep-sea minerals exploration and development company focused on polymetallic nodules found on the ocean floor. The nodules contain metals including nickel, copper, cobalt and manganese, which are used in batteries, stainless steel and other industrial applications. The company’s exploration activities are centered in the Clarion-Clipperton Zone of the Pacific Ocean. Through subsidiaries sponsored by Pacific island nations, TMC holds exploration contracts with the International Seabed Authority.