TMC the metals (NASDAQ:TMC) Stock Price Up 13% – Still a Buy?

TMC the metals company Inc. (NASDAQ:TMC) rose 13% during mid-day trading on Monday. The company traded as high as $2.50 and last traded at $2.5640. 1,045,150 shares changed hands during trading, a decline of 83% from the average session volume of 6,141,612 shares. The stock had previously closed at $2.27.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Stifel Nicolaus assumed coverage on shares of TMC the metals in a report on Friday, August 28th. They set a “buy” rating and a $10.00 target price for the company. Zacks Research upgraded shares of TMC the metals from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 4th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of TMC the metals in a research note on Thursday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $10.44.

TMC the metals Price Performance

The firm has a market cap of $1.14 billion, a PE ratio of -3.57 and a beta of 2.22. The company’s 50 day moving average price is $3.42 and its 200 day moving average price is $4.79.

TMC the metals (NASDAQ:TMC) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.08). Sell-side analysts expect that TMC the metals company Inc. will post -0.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. GK Wealth Management LLC purchased a new stake in shares of TMC the metals during the third quarter worth approximately $29,000. Northwestern Mutual Wealth Management Co. purchased a new position in TMC the metals in the 2nd quarter valued at $44,000. Coastal Bridge Advisors LLC purchased a new position in TMC the metals in the 2nd quarter valued at $44,000. Consolidated Capital Management LLC purchased a new position in TMC the metals in the 3rd quarter valued at $38,000. Finally, Lazari Capital Management Inc. acquired a new position in TMC the metals in the 3rd quarter valued at $38,000. Institutional investors and hedge funds own 4.39% of the company’s stock.

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.