TMC the metals company Inc. (NASDAQ:TMC) Stock Has Average Price Target of $10.44 According to Analysts

Shares of TMC the metals company Inc. (NASDAQ:TMC) have received a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $10.44.

A number of brokerages have recently commented on TMC. Weiss Ratings reiterated a “sell (d-)” rating on shares of TMC the metals in a report on Friday, July 17th. Stifel Nicolaus started coverage on shares of TMC the metals in a research report on Friday, August 28th. They issued a “buy” rating and a $10.00 price objective for the company. Finally, Zacks Research downgraded shares of TMC the metals from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 6th.

Institutional Trading of TMC the metals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Arizona State Retirement System grew its holdings in shares of TMC the metals by 5.2% during the 2nd quarter. Arizona State Retirement System now owns 59,765 shares of the company’s stock worth $265,000 after purchasing an additional 2,977 shares during the period. Tidal Investments LLC grew its holdings in TMC the metals by 39.0% during the 2nd quarter. Tidal Investments LLC now owns 17,560 shares of the company’s stock valued at $78,000 after purchasing an additional 4,928 shares in the last quarter. Amundi grew its stake in shares of TMC the metals by 13.3% during the first quarter. Amundi now owns 44,186 shares of the company’s stock valued at $206,000 after acquiring an additional 5,202 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in TMC the metals during the 4th quarter valued at approximately $33,000. Finally, Money Concepts Capital Corp grew its position in shares of TMC the metals by 58.0% during the first quarter. Money Concepts Capital Corp now owns 17,377 shares of the company’s stock worth $81,000 after buying an additional 6,377 shares in the last quarter. Hedge funds and other institutional investors own 4.39% of the company’s stock.

TMC the metals Price Performance

NASDAQ TMC opened at $3.36 on Wednesday. TMC the metals has a fifty-two week low of $3.31 and a fifty-two week high of $11.35. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of -4.60 and a beta of 1.91. The business has a fifty day moving average of $4.14 and a 200-day moving average of $4.59.

TMC the metals (NASDAQ:TMC) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.08). As a group, analysts anticipate that TMC the metals will post -0.38 EPS for the current year.

About TMC the metals

TMC the metals company is a mineral exploration and development company focused on collecting polymetallic nodules from the seafloor. These potato-sized rocks contain nickel, copper, cobalt and manganese, metals used in rechargeable batteries, electric vehicles and other energy-transition technologies.

The company’s activities center on nodule resources in the Clarion-Clipperton Zone of the Pacific Ocean, an area between Mexico and Hawaii. TMC is developing technologies and operating plans for seafloor nodule collection, transport and processing, with the goal of producing battery metals while limiting some of the land disturbance associated with conventional mining.