TMC the metals company Inc. (NASDAQ:TMC) Given Consensus Recommendation of “Hold” by Analysts

TMC the metals company Inc. (NASDAQ:TMC) has been given a consensus rating of “Hold” by the five brokerages that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $10.5833.

Several research firms have issued reports on TMC. Maxim Group began coverage on shares of TMC the metals in a research report on Thursday. They issued a “buy” rating and a $10.00 price target on the stock. Wall Street Zen raised TMC the metals from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. HC Wainwright restated a “buy” rating and issued a $11.75 target price on shares of TMC the metals in a report on Tuesday. Wedbush boosted their target price on TMC the metals from $8.00 to $10.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TMC the metals in a report on Monday, April 20th.

TMC the metals Trading Down 2.2%

TMC stock traded down $0.14 during trading hours on Thursday, hitting $5.98. 1,027,865 shares of the stock traded hands, compared to its average volume of 6,986,502. The stock has a 50-day simple moving average of $5.21 and a 200 day simple moving average of $6.13. The company has a market cap of $2.59 billion, a P/E ratio of -7.56 and a beta of 1.99. TMC the metals has a one year low of $3.93 and a one year high of $11.35.

TMC the metals (NASDAQ:TMC) last issued its quarterly earnings results 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. Analysts forecast that TMC the metals will post -0.31 earnings per share for the current year.

Insider Transactions at TMC the metals

In other TMC the metals news, Director Brendan May sold 20,768 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $6.42, for a total transaction of $133,330.56. Following the completion of the sale, the director directly owned 193,346 shares of the company’s stock, valued at approximately $1,241,281.32. This represents a 9.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 28.50% of the company’s stock.

Institutional Investors Weigh In On TMC the metals

A number of large investors have recently made changes to their positions in the company. Encompass Capital Advisors LLC acquired a new stake in TMC the metals during the 4th quarter valued at $18,510,000. Old West Investment Management LLC boosted its position in shares of TMC the metals by 49.6% in the third quarter. Old West Investment Management LLC now owns 1,997,238 shares of the company’s stock worth $12,722,000 after buying an additional 662,200 shares during the period. State Street Corp boosted its position in shares of TMC the metals by 2.4% in the fourth quarter. State Street Corp now owns 986,160 shares of the company’s stock worth $6,085,000 after buying an additional 23,095 shares during the period. Verition Fund Management LLC grew its holdings in shares of TMC the metals by 120.1% during the fourth quarter. Verition Fund Management LLC now owns 817,364 shares of the company’s stock valued at $5,043,000 after buying an additional 445,985 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of TMC the metals during the first quarter valued at $3,409,000. Institutional investors and hedge funds 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. 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.