TMC the metals (NASDAQ:TMC) Receives “Buy” Rating from HC Wainwright

TMC the metals (NASDAQ:TMC)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a research report issued on Tuesday,Benzinga reports. They currently have a $11.75 price target on the stock. HC Wainwright’s target price would suggest a potential upside of 81.72% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Wall Street Zen upgraded TMC the metals from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TMC the metals in a research report on Monday, April 20th. Finally, Wedbush lifted their price objective 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. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $10.88.

TMC the metals Price Performance

Shares of NASDAQ:TMC traded up $0.42 during mid-day trading on Tuesday, reaching $6.47. 7,667,257 shares of the company were exchanged, compared to its average volume of 6,144,231. TMC the metals has a 1 year low of $3.93 and a 1 year high of $11.35. The firm’s 50-day simple moving average is $5.16 and its 200 day simple moving average is $6.12. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of -8.01 and a beta of 1.99.

TMC the metals (NASDAQ:TMC) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. On average, research analysts forecast that TMC the metals will post -0.31 earnings per share for the current fiscal year.

Institutional Trading of TMC the metals

A number of large investors have recently made changes to their positions in TMC. Bank of America Corp DE boosted its stake in TMC the metals by 83.0% during the 1st quarter. Bank of America Corp DE now owns 150,600 shares of the company’s stock worth $703,000 after purchasing an additional 68,324 shares during the period. Arkadios Wealth Advisors purchased a new position in shares of TMC the metals during the first quarter worth about $66,000. Amundi increased its position in TMC the metals by 13.3% in the 1st quarter. Amundi now owns 44,186 shares of the company’s stock valued at $206,000 after acquiring an additional 5,202 shares during the period. California State Teachers Retirement System increased its position in TMC the metals by 38.4% in the 1st quarter. California State Teachers Retirement System now owns 264,499 shares of the company’s stock valued at $1,235,000 after acquiring an additional 73,365 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in TMC the metals during the 1st quarter valued at approximately $3,409,000. 4.39% of the stock is owned by institutional investors and hedge funds.

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.