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

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

Several equities analysts recently weighed in on the stock. Wall Street Zen raised shares of TMC the metals from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. HC Wainwright reissued a “buy” rating and issued a $11.75 target price on shares of TMC the metals in a research note on Tuesday, June 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of TMC the metals in a research note on Monday, April 20th. Maxim Group assumed coverage on shares of TMC the metals in a research note on Thursday, June 4th. They issued a “buy” rating and a $10.00 target price for the company. Finally, Wedbush raised their target price on shares of TMC the metals from $8.00 to $10.00 and gave the company an “outperform” rating in a research note on Monday, May 4th.

Insider Transactions at TMC the metals

In other TMC the metals news, Director Brendan May sold 20,768 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $6.42, for a total transaction of $133,330.56. Following the completion of the sale, the director owned 193,346 shares of the company’s stock, valued at $1,241,281.32. This trade represents a 9.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 28.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On TMC the metals

Hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new stake in TMC the metals during the 4th quarter valued at $1,460,000. Quantbot Technologies LP lifted its holdings in TMC the metals by 2,615.8% during the 3rd quarter. Quantbot Technologies LP now owns 195,971 shares of the company’s stock valued at $1,248,000 after purchasing an additional 188,755 shares during the last quarter. GSA Capital Partners LLP lifted its holdings in TMC the metals by 123.8% during the 4th quarter. GSA Capital Partners LLP now owns 220,510 shares of the company’s stock valued at $1,361,000 after purchasing an additional 121,961 shares during the last quarter. Encompass Capital Advisors LLC acquired a new stake in TMC the metals during the 4th quarter valued at $18,510,000. Finally, SLT Holdings LLC acquired a new stake in TMC the metals during the 4th quarter valued at $1,223,000. Institutional investors and hedge funds own 4.39% of the company’s stock.

TMC the metals Stock Performance

NASDAQ:TMC opened at $4.25 on Monday. TMC the metals has a 1-year low of $3.93 and a 1-year high of $11.35. The firm has a fifty day simple moving average of $5.37 and a 200 day simple moving average of $5.99. The stock has a market capitalization of $1.84 billion, a PE ratio of -5.38 and a beta of 1.99.

TMC the metals (NASDAQ:TMC) last released its earnings results on Thursday, May 14th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.01. On average, equities analysts predict that TMC the metals will post -0.31 earnings per share for the current fiscal year.

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.