TMC the metals company Inc. (NASDAQ:TMC) Receives Average Rating of “Hold” from Analysts

Shares of TMC the metals company Inc. (NASDAQ:TMC) have been given an average rating of “Hold” by the five ratings firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $7.4167.

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

TMC the metals Price Performance

Shares of TMC opened at $7.00 on Friday. The business’s 50-day moving average is $6.51 and its 200-day moving average is $6.55. The company has a market capitalization of $2.89 billion, a price-to-earnings ratio of -9.09 and a beta of 1.85. TMC the metals has a fifty-two week low of $1.02 and a fifty-two week high of $11.35.

TMC the metals (NASDAQ:TMC) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.08). Equities research analysts expect that TMC the metals will post -0.22 earnings per share for the current fiscal year.

Insider Activity at TMC the metals

In related 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 value of $338,500.00. Following the transaction, the insider owned 2,025,667 shares in the company, valued at approximately $13,713,765.59. This represents a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 27.60% of the company’s stock.

Institutional Trading of TMC the metals

Large investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. acquired a new position in shares of TMC the metals during the 1st quarter worth $211,000. Mirador Capital Partners LP bought a new stake in TMC the metals in the second quarter worth $731,000. Wealth Enhancement Advisory Services LLC increased its position in TMC the metals by 10.5% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 47,163 shares of the company’s stock worth $335,000 after buying an additional 4,482 shares during the last quarter. Sowell Financial Services LLC increased its position in TMC the metals by 37.4% during the second quarter. Sowell Financial Services LLC now owns 16,604 shares of the company’s stock worth $110,000 after buying an additional 4,517 shares during the last quarter. Finally, Abacus Wealth Partners LLC raised its holdings in TMC the metals by 187.5% during the second quarter. Abacus Wealth Partners LLC now owns 92,000 shares of the company’s stock valued at $607,000 after buying an additional 60,000 shares in the last quarter. 4.39% of the stock is owned by institutional investors.

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.