TMC the metals (NASDAQ:TMC) Raised to “Hold” at Zacks Research

TMC the metals (NASDAQ:TMC) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Wednesday, Zacks reports.

A number of other equities analysts also recently issued reports on TMC. Stifel Nicolaus assumed coverage on TMC the metals in a research note on Friday, August 28th. They issued a “buy” rating and a $10.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of TMC the metals in a research report on Thursday, October 15th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.44.

TMC the metals Trading Down 10.4%

Shares of TMC stock opened at $2.07 on Wednesday. TMC the metals has a 12-month low of $1.91 and a 12-month high of $10.05. The firm’s 50 day moving average is $3.48 and its 200 day moving average is $4.82. The stock has a market capitalization of $913.15 million, a P/E ratio of -2.84 and a beta of 2.22.

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

Hedge Funds Weigh In On TMC the metals

Several institutional investors have recently made changes to their positions in the business. GK Wealth Management LLC purchased a new position in shares of TMC the metals during the 3rd quarter worth $29,000. Main Street Research LLC purchased a new stake in shares of TMC the metals in the 1st quarter worth $47,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of TMC the metals in the 2nd quarter worth $44,000. Coastal Bridge Advisors LLC purchased a new stake in shares of TMC the metals in the 2nd quarter worth $44,000. Finally, Consolidated Capital Management LLC bought a new position in TMC the metals in the 3rd quarter worth $38,000. Institutional investors own 4.39% of the company’s stock.

TMC the metals Company Profile

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.