TMC the metals (NASDAQ:TMC) Shares Up 7.2% – What’s Next?

Shares of TMC the metals company Inc. (NASDAQ:TMC) shot up 7.2% during mid-day trading on Thursday . The company traded as high as $7.28 and last traded at $7.3460. 2,833,422 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 8,777,196 shares. The stock had previously closed at $6.85.

Analyst Ratings Changes

A number of brokerages have recently commented on TMC. Weiss Ratings reissued a “sell (d-)” rating on shares of TMC the metals in a research report on Wednesday, October 8th. Zacks Research upgraded shares of TMC the metals from a “strong sell” rating to a “hold” rating in a report on Thursday, November 13th. Finally, HC Wainwright raised their price objective on shares of TMC the metals from $7.25 to $7.50 and gave the company a “buy” rating in a report on Friday, November 14th. 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. Based on data from MarketBeat, TMC the metals currently has an average rating of “Hold” and an average price target of $7.42.

TMC the metals Stock Down 9.9%

The company has a market cap of $2.75 billion, a price-to-earnings ratio of -8.62 and a beta of 1.82. The business’s fifty day simple moving average is $7.02 and its two-hundred day simple moving average is $6.26.

TMC the metals (NASDAQ:TMC) last posted its earnings results on Thursday, November 13th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.08). Sell-side analysts predict that TMC the metals company Inc. will post -0.22 EPS for the current fiscal year.

Insider Activity

In other TMC the metals news, insider Erika Ilves sold 1,591,485 shares of TMC the metals stock in a transaction that occurred 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 transaction, the insider owned 1,145,792 shares of the company’s stock, valued at $6,611,219.84. The trade was a 58.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Anthony O’sullivan sold 50,000 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $6.77, for a total value of $338,500.00. Following the completion of the sale, the insider directly owned 2,025,667 shares of the company’s stock, valued at $13,713,765.59. The trade was a 2.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,691,485 shares of company stock valued at $9,846,868 over the last three months. Company insiders own 27.60% of the company’s stock.

Hedge Funds Weigh In On TMC the metals

Several institutional investors have recently bought and sold shares of the company. Independent Advisor Alliance raised its position in TMC the metals by 53.1% during the 1st quarter. Independent Advisor Alliance now owns 57,665 shares of the company’s stock worth $99,000 after buying an additional 20,000 shares during the last quarter. Sprott Inc. acquired a new position in shares of TMC the metals during the first quarter worth about $26,000. Old West Investment Management LLC raised its holdings in TMC the metals by 100.0% during the first quarter. Old West Investment Management LLC now owns 4,270,076 shares of the company’s stock worth $7,345,000 after purchasing an additional 2,135,038 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in TMC the metals in the first quarter valued at about $79,000. Finally, Magnetar Financial LLC acquired a new stake in TMC the metals in the first quarter valued at about $86,000. 4.39% of the stock is owned by institutional investors and hedge funds.

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.