TMC the metals (NASDAQ:TMC) Raised to Strong-Buy at Stifel Nicolaus

TMC the metals (NASDAQ:TMC) was upgraded by analysts at Stifel Nicolaus to a “strong-buy” rating in a research report issued on Thursday,Zacks.com reports.

A number of other research firms also recently commented on TMC. Wedbush upped their price objective on TMC the metals from $8.00 to $10.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. HC Wainwright reissued a “buy” rating and set a $11.75 price target on shares of TMC the metals in a research report on Tuesday, June 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of TMC the metals in a research note on Friday, July 17th. Maxim Group began coverage on TMC the metals in a report on Thursday, June 4th. They issued a “buy” rating and a $10.00 price objective on the stock. Finally, Wall Street Zen upgraded TMC the metals from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, TMC the metals presently has an average rating of “Moderate Buy” and an average target price of $10.44.

TMC the metals Price Performance

Shares of TMC stock opened at $4.81 on Thursday. The firm’s 50-day simple moving average is $4.19 and its 200-day simple moving average is $5.04. TMC the metals has a 1-year low of $3.40 and a 1-year high of $11.35. The firm has a market cap of $2.12 billion, a P/E ratio of -6.59 and a beta of 2.06.

TMC the metals (NASDAQ:TMC) last released its earnings results on Thursday, August 13th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.08). Analysts expect that TMC the metals will post -0.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In other TMC the metals news, Director Brendan May sold 20,768 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $6.42, for a total value of $133,330.56. Following the transaction, the director directly owned 193,346 shares of the company’s stock, valued at $1,241,281.32. This trade represents a 9.70% decrease in their ownership of the stock. The transaction 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 company insiders.

Institutional Investors Weigh In On TMC the metals

Large investors have recently modified their holdings of the stock. NewEdge Advisors LLC purchased a new stake in shares of TMC the metals during the 2nd quarter valued at about $28,000. Osterweis Capital Management Inc. purchased a new position in TMC the metals in the 4th quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd purchased a new position in TMC the metals in the 4th quarter worth approximately $29,000. Sunbelt Securities Inc. acquired a new stake in TMC the metals in the third quarter valued at approximately $34,000. Finally, Farther Finance Advisors LLC grew its position in TMC the metals by 465.8% in the fourth quarter. Farther Finance Advisors LLC now owns 5,686 shares of the company’s stock valued at $35,000 after acquiring an additional 4,681 shares in the last quarter. Institutional investors and hedge funds own 4.39% of the company’s stock.

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.