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

Shares of TMC the metals company Inc. (NASDAQ:TMC) have been assigned a consensus rating of “Moderate Buy” from the six analysts that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $10.44.

TMC has been the subject of a number of recent research reports. Stifel Nicolaus initiated coverage on TMC the metals in a research note on Friday, August 28th. They set a “buy” rating and a $10.00 price objective for the company. Zacks Research upgraded TMC the metals from a “strong sell” rating to a “hold” rating in a research note on Wednesday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TMC the metals in a report on Thursday, October 15th.

Institutional Investors Weigh In On TMC the metals

Several hedge funds have recently bought and sold shares of TMC. GK Wealth Management LLC purchased a new position in shares of TMC the metals during the 3rd quarter valued at approximately $29,000. Main Street Research LLC acquired a new position in shares of TMC the metals in the 1st quarter valued at $47,000. Coastal Bridge Advisors LLC purchased a new stake in TMC the metals during the second quarter worth $44,000. Northwestern Mutual Wealth Management Co. purchased a new stake in TMC the metals during the second quarter worth $44,000. Finally, Consolidated Capital Management LLC purchased a new stake in TMC the metals during the third quarter worth $38,000. Hedge funds and other institutional investors own 4.39% of the company’s stock.

TMC the metals Price Performance

TMC stock opened at $2.27 on Friday. The firm’s fifty day simple moving average is $3.42 and its 200-day simple moving average is $4.79. The company has a market capitalization of $1.00 billion, a P/E ratio of -3.11 and a beta of 2.22. TMC the metals has a 12 month low of $1.91 and a 12 month high of $10.05.

TMC the metals (NASDAQ:TMC) last issued its earnings results 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, sell-side analysts forecast that TMC the metals will post -0.38 earnings per share for the current year.

About TMC the metals

TMC the metals company Inc, formerly known as DeepGreen Metals, is a deep-sea minerals exploration and development company. The company is focused on polymetallic nodules, mineral-rich rocks found on the seafloor that contain nickel, copper, cobalt and manganese—metals used in batteries, renewable energy systems and other industrial applications.

Through its subsidiaries, including Nauru Ocean Resources Inc (NORI), TMC holds exploration interests in the Clarion-Clipperton Zone, an area of the Pacific Ocean between Hawaii and Mexico.