TMC the metals (NASDAQ:TMC) Announces Earnings Results, Misses Expectations By $0.08 EPS

TMC the metals (NASDAQ:TMC) issued its earnings results on Thursday. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.08), FiscalAI reports.

Here are the key takeaways from TMC the metals’ conference call:

• USA-A permitting is delayed: NOAA certification for the consolidated USA-A application is now expected in October 2026, making a permanent grant in the first quarter of 2027 unlikely, although TMC still expects approval before targeted vessel commissioning in Q4 2027.
• Commercial offshore system advances toward procurement. Allseas has completed basic engineering for key long-lead components, with fabrication planned from Q4 2026 through Q3 2027 and installation and commissioning targeted for Q4 2027; the initial system is designed for 3 million wet tons of nodules annually.
• TMC is pursuing a U.S.-based processing and refining hub in Brownsville, Texas, with feasibility work nearing completion for a potential 12-million-ton-per-year industrial park. Management said discussions with multiple U.S. agencies regarding support are ongoing, but emphasized that no government investment has yet been committed and no final investment decision has been made.
• The company reported a Q2 net loss of $60.1 million, while liquidity stood at $143 million and management believes cash will cover working-capital and capital-expenditure needs for at least the next 12 months. TMC will not seek to extend the 15 million public SPAC warrants, and it is deferring other capital-market transactions while confidential government-funding discussions continue.
• TMC reiterated the substantial estimated economics of its resource, citing combined project NPVs of $23.6 billion, approximately $369 billion of potential lifetime revenue, and more than $200 billion of EBITDA based on its technical studies, though these remain project estimates subject to permitting, financing, construction, and execution risks.

TMC the metals Stock Performance

Shares of NASDAQ TMC traded down $0.06 during trading hours on Thursday, hitting $4.41. The company’s stock had a trading volume of 4,263,758 shares, compared to its average volume of 6,348,272. TMC the metals has a 12 month low of $3.40 and a 12 month high of $11.35. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of -5.58 and a beta of 2.06. The business has a 50-day simple moving average of $4.37 and a 200-day simple moving average of $5.26.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on TMC shares. Maxim Group started coverage on shares of TMC the metals in a report on Thursday, June 4th. They issued a “buy” rating and a $10.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TMC the metals in a report on Friday, July 17th. HC Wainwright reiterated a “buy” rating and issued a $11.75 target price on shares of TMC the metals in a research report on Tuesday, June 2nd. Wedbush boosted their price target on shares of TMC the metals from $8.00 to $10.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Finally, Wall Street Zen upgraded shares of TMC the metals from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, TMC the metals has an average rating of “Hold” and a consensus target price of $10.58.

Insider Buying and Selling

In other TMC the metals news, Director Brendan May sold 20,768 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $6.42, for a total value of $133,330.56. Following the completion of the sale, the director owned 193,346 shares in the company, valued at approximately $1,241,281.32. This trade represents a 9.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 28.50% of the stock is owned by insiders.

Hedge Funds Weigh In On TMC the metals

Several hedge funds have recently made changes to their positions in TMC. State Street Corp lifted its stake in TMC the metals by 2.4% in the fourth quarter. State Street Corp now owns 986,160 shares of the company’s stock worth $6,085,000 after acquiring an additional 23,095 shares during the period. Verition Fund Management LLC increased its position in TMC the metals by 120.1% during the 4th quarter. Verition Fund Management LLC now owns 817,364 shares of the company’s stock valued at $5,043,000 after purchasing an additional 445,985 shares during the period. Tudor Investment Corp ET AL increased its position in TMC the metals by 57.8% during the 4th quarter. Tudor Investment Corp ET AL now owns 698,185 shares of the company’s stock valued at $4,308,000 after purchasing an additional 255,766 shares during the period. Goldman Sachs Group Inc. raised its holdings in TMC the metals by 234.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 678,540 shares of the company’s stock worth $4,187,000 after purchasing an additional 475,464 shares in the last quarter. Finally, UBS Group AG raised its holdings in TMC the metals by 869.6% in the 3rd quarter. UBS Group AG now owns 630,757 shares of the company’s stock worth $4,018,000 after purchasing an additional 712,717 shares in the last quarter. 4.39% of the stock is owned by hedge funds and other institutional investors.

TMC the metals Company Profile

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.