TMC the metals (NASDAQ:TMC) Price Target Raised to $7.50 at HC Wainwright

TMC the metals (NASDAQ:TMC) had its price objective raised by HC Wainwright from $7.25 to $7.50 in a report issued on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research firms have also weighed in on TMC. Zacks Research lowered shares of TMC the metals from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TMC the metals in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $7.42.

TMC the metals Price Performance

Shares of NASDAQ:TMC traded down $0.09 during trading on Friday, reaching $5.08. 9,781,362 shares of the stock were exchanged, compared to its average volume of 6,793,845. TMC the metals has a 1-year low of $0.72 and a 1-year high of $11.35. The stock has a fifty day moving average of $6.84 and a two-hundred day moving average of $5.86. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of -6.60 and a beta of 1.71.

TMC the metals (NASDAQ:TMC) last posted its quarterly earnings results on Thursday, August 14th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.01). Sell-side analysts forecast that TMC the metals will post -0.22 EPS for the current year.

Insider Buying and Selling at TMC the metals

In other news, insider Erika Ilves sold 1,591,485 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $5.77, for a total value of $9,182,868.45. Following the completion of the sale, the insider owned 1,145,792 shares in the company, valued at $6,611,219.84. This represents a 58.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Anthony O’sullivan sold 250,000 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $5.25, for a total transaction of $1,312,500.00. Following the transaction, the insider directly owned 1,125,667 shares in the company, valued at $5,909,751.75. The trade was a 18.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 27.60% of the company’s stock.

Hedge Funds Weigh In On TMC the metals

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Raymond James Financial Inc. grew its holdings in shares of TMC the metals by 32.8% in the third quarter. Raymond James Financial Inc. now owns 66,631 shares of the company’s stock valued at $424,000 after acquiring an additional 16,462 shares in the last quarter. Freestone Grove Partners LP purchased a new position in TMC the metals in the third quarter worth $232,000. Brooklyn Investment Group bought a new position in TMC the metals in the 3rd quarter valued at $126,000. Concentric Capital Strategies LP purchased a new stake in shares of TMC the metals during the 3rd quarter valued at $585,000. Finally, Main Street Research LLC bought a new stake in shares of TMC the metals during the 3rd quarter worth $64,000. Hedge funds and other 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.