TMC the metals (NASDAQ:TMC) Coverage Initiated by Analysts at HC Wainwright

HC Wainwright began coverage on shares of TMC the metals (NASDAQ:TMC) in a research report released on Tuesday, MarketBeat Ratings reports. The firm issued a buy rating and a $5.50 price objective on the stock.

Separately, Wedbush reiterated a “neutral” rating and issued a $6.00 target price on shares of TMC the metals in a research report on Friday, May 16th.

TMC the metals Stock Up 0.4%

Shares of TMC stock opened at $4.47 on Tuesday. TMC the metals has a twelve month low of $0.72 and a twelve month high of $4.64. The company has a market cap of $1.56 billion, a P/E ratio of -14.42 and a beta of 1.33. The business has a fifty day simple moving average of $2.51 and a 200 day simple moving average of $1.73.

TMC the metals (NASDAQ:TMC) last announced its quarterly earnings data on Wednesday, May 14th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.03). As a group, equities research analysts anticipate that TMC the metals will post -0.22 earnings per share for the current fiscal year.

Insider Buying and Selling at TMC the metals

In other news, CFO Craig Shesky sold 353,702 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $1.66, for a total value of $587,145.32. Following the completion of the sale, the chief financial officer now owns 1,145,717 shares of the company’s stock, valued at approximately $1,901,890.22. This represents a 23.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 30.00% of the company’s stock.

Institutional Investors Weigh In On TMC the metals

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. acquired a new stake in shares of TMC the metals in the first quarter valued at about $211,000. Baird Financial Group Inc. increased its stake in shares of TMC the metals by 35.1% in the first quarter. Baird Financial Group Inc. now owns 2,946,027 shares of the company’s stock valued at $5,067,000 after buying an additional 766,167 shares during the period. Magnetar Financial LLC acquired a new stake in shares of TMC the metals in the first quarter valued at about $86,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of TMC the metals in the first quarter valued at about $79,000. Finally, Old West Investment Management LLC grew its stake in 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 purchasing an additional 2,135,038 shares during the period. Institutional investors and hedge funds own 4.39% of the company’s stock.

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.