TMC the metals (NASDAQ:TMC) Price Target Raised to $7.50

TMC the metals (NASDAQ:TMC) had its price target boosted by HC Wainwright from $7.25 to $7.50 in a research note released on Friday,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

A number of other brokerages also recently commented on TMC. Zacks Research downgraded shares of TMC the metals from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of TMC the metals in a report on Wednesday, October 8th. Three 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $7.42.

TMC the metals Stock Performance

TMC stock opened at $5.08 on Friday. TMC the metals has a fifty-two week low of $0.72 and a fifty-two week high of $11.35. The company’s 50 day moving average price is $6.84 and its 200 day moving average price is $5.90. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of -6.60 and a beta of 1.71.

TMC the metals (NASDAQ:TMC) last announced its quarterly earnings data on Thursday, August 14th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). Equities analysts forecast that TMC the metals will post -0.22 EPS for the current fiscal year.

Insider Transactions at TMC the metals

In other news, insider Anthony O’sullivan sold 250,000 shares of TMC the metals stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $5.25, for a total transaction of $1,312,500.00. Following the sale, the insider owned 1,125,667 shares in the company, valued at approximately $5,909,751.75. The trade was a 18.17% 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 link. Also, insider Erika Ilves sold 1,591,485 shares of the company’s stock in a transaction dated 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 sale, the insider directly 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 SEC filing for this sale provides additional information. 27.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On TMC the metals

Hedge funds have recently modified their holdings of the business. Allworth Financial LP increased its holdings in shares of TMC the metals by 48.0% in the 1st quarter. Allworth Financial LP now owns 14,796 shares of the company’s stock valued at $25,000 after acquiring an additional 4,796 shares during the period. Sprott Inc. purchased a new position in TMC the metals during the 1st quarter worth $26,000. NewEdge Advisors LLC acquired a new position in TMC the metals in the second quarter valued at $28,000. Wolverine Asset Management LLC raised its holdings in shares of TMC the metals by 752.6% in the second quarter. Wolverine Asset Management LLC now owns 4,945 shares of the company’s stock valued at $33,000 after buying an additional 4,365 shares during the last quarter. Finally, KBC Group NV purchased a new stake in shares of TMC the metals in the second quarter valued at about $37,000. 4.39% of the stock is currently 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.