TMC the metals company Inc. (NASDAQ:TMC) Receives $7.42 Average Target Price from Brokerages

Shares of TMC the metals company Inc. (NASDAQ:TMC) have been given a consensus rating of “Hold” by the four brokerages that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $9.25.

A number of equities analysts have commented on TMC shares. Zacks Research upgraded shares of TMC the metals from a “strong sell” rating to a “hold” rating in a report on Thursday, November 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TMC the metals in a research report on Wednesday, October 8th. Finally, HC Wainwright increased their price target on TMC the metals from $7.25 to $7.50 and gave the company a “buy” rating in a report on Friday, November 14th.

Insider Activity at TMC the metals

In other news, insider Anthony O’sullivan sold 50,000 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $6.77, for a total transaction of $338,500.00. Following the completion of the transaction, the insider directly owned 2,025,667 shares in the company, valued at approximately $13,713,765.59. This represents a 2.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 27.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. One Wealth Management Investment & Advisory Services LLC acquired a new position in TMC the metals during the 4th quarter worth $77,000. Waldron Private Wealth LLC bought a new position in shares of TMC the metals during the fourth quarter worth about $106,000. Mirador Capital Partners LP grew its stake in TMC the metals by 14.1% in the fourth quarter. Mirador Capital Partners LP now owns 513,575 shares of the company’s stock worth $3,169,000 after purchasing an additional 63,585 shares in the last quarter. SG Americas Securities LLC acquired a new position in TMC the metals in the fourth quarter worth about $1,460,000. Finally, GK Wealth Management LLC bought a new stake in TMC the metals in the fourth quarter valued at about $66,000. 4.39% of the stock is currently owned by institutional investors.

TMC the metals Stock Down 5.6%

NASDAQ TMC opened at $7.38 on Friday. TMC the metals has a fifty-two week low of $1.29 and a fifty-two week high of $11.35. The business has a 50 day moving average price of $6.64 and a two-hundred day moving average price of $6.56. The stock has a market cap of $3.05 billion, a PE ratio of -9.58 and a beta of 1.85.

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 anticipate that TMC the metals will post -0.22 EPS 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.