TMC the metals (NASDAQ:TMC) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of TMC the metals (NASDAQ:TMC) from a strong sell rating to a hold rating in a report published on Thursday,Zacks.com reports.

TMC has been the topic of several other reports. HC Wainwright lifted their target price on TMC the metals from $7.25 to $7.50 and gave the stock a “buy” rating in a report on Friday. Weiss Ratings reiterated a “sell (d-)” rating on shares of TMC the metals in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $7.42.

TMC the metals Stock Down 1.7%

NASDAQ TMC traded down $0.09 during trading on Thursday, reaching $5.08. 9,781,362 shares of the stock traded hands, compared to its average volume of 6,793,845. TMC the metals has a fifty-two week low of $0.72 and a fifty-two week high of $11.35. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of -6.60 and a beta of 1.71. The stock’s 50-day moving average price is $6.84 and its 200 day moving average price is $5.86.

TMC the metals (NASDAQ:TMC) last posted its earnings results on Thursday, August 14th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.01). Analysts anticipate that TMC the metals will post -0.22 EPS for the current fiscal year.

Insider Transactions at TMC the metals

In related news, insider Erika Ilves sold 1,591,485 shares of the firm’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $5.77, for a total value of $9,182,868.45. Following the completion of the transaction, the insider owned 1,145,792 shares of the company’s stock, valued at approximately $6,611,219.84. This trade represents a 58.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Anthony O’sullivan sold 250,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $5.25, for a total value of $1,312,500.00. Following the transaction, the insider directly owned 1,125,667 shares in the company, valued at $5,909,751.75. This trade represents a 18.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 27.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. acquired a new position in TMC the metals in the 1st quarter valued at about $211,000. Baird Financial Group Inc. increased its position in TMC the metals by 35.1% during the 1st quarter. Baird Financial Group Inc. now owns 2,946,027 shares of the company’s stock worth $5,067,000 after buying an additional 766,167 shares during the period. Old West Investment Management LLC lifted its holdings in shares of TMC the metals by 100.0% during the first quarter. Old West Investment Management LLC now owns 4,270,076 shares of the company’s stock worth $7,345,000 after buying an additional 2,135,038 shares in the last quarter. Mirador Capital Partners LP bought a new stake in shares of TMC the metals in the second quarter valued at about $731,000. Finally, Abacus Wealth Partners LLC grew its stake in shares of TMC the metals by 187.5% in the second quarter. Abacus Wealth Partners LLC now owns 92,000 shares of the company’s stock valued at $607,000 after acquiring an additional 60,000 shares in the last quarter. 4.39% of the stock is currently owned by institutional investors and hedge funds.

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.