TMC the metals (NASDAQ:TMC) Rating Increased to Hold at Zacks Research

TMC the metals (NASDAQ:TMC) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

A number of other equities research analysts have also issued reports on TMC. HC Wainwright upped their target price on shares of TMC the metals from $7.25 to $7.50 and gave the stock a “buy” rating in a report on Friday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TMC the metals in a research note on Wednesday, October 8th. Three investment 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. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $7.42.

TMC the metals Price Performance

TMC stock traded down $0.09 during trading on Thursday, hitting $5.08. The stock had a trading volume of 9,781,362 shares, compared to its average volume of 6,793,845. TMC the metals has a twelve month low of $0.72 and a twelve month high of $11.35. The company’s 50-day moving average price is $6.84 and its two-hundred day moving average price is $5.86. The stock has a market capitalization of $2.06 billion, a P/E ratio of -6.60 and a beta of 1.71.

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

Insider Buying and Selling

In other TMC the metals news, insider Erika Ilves sold 1,591,485 shares of the firm’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $5.77, for a total transaction of $9,182,868.45. Following the completion of the sale, the insider owned 1,145,792 shares of the company’s stock, valued at $6,611,219.84. This trade represents a 58.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Anthony O’sullivan sold 250,000 shares of TMC the metals stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $5.25, for a total value of $1,312,500.00. Following the completion of the sale, the insider owned 1,125,667 shares in the company, valued at $5,909,751.75. This represents a 18.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 27.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. acquired a new position in TMC the metals during the 1st quarter worth $211,000. Baird Financial Group Inc. increased its holdings in shares of TMC the metals by 35.1% in the 1st quarter. Baird Financial Group Inc. now owns 2,946,027 shares of the company’s stock valued at $5,067,000 after acquiring an additional 766,167 shares during the last quarter. Old West Investment Management LLC raised its position in shares of TMC the metals by 100.0% during the 1st quarter. Old West Investment Management LLC now owns 4,270,076 shares of the company’s stock worth $7,345,000 after acquiring an additional 2,135,038 shares in the last quarter. Mirador Capital Partners LP purchased a new stake in TMC the metals during the second quarter worth approximately $731,000. Finally, Abacus Wealth Partners LLC boosted its holdings in TMC the metals by 187.5% in the second quarter. Abacus Wealth Partners LLC now owns 92,000 shares of the company’s stock valued at $607,000 after purchasing an additional 60,000 shares in the last quarter. 4.39% of the stock is currently 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.