TMC the metals (NASDAQ:TMC) Given Outperform Rating at Wedbush

TMC the metals (NASDAQ:TMC)‘s stock had its “outperform” rating reiterated by stock analysts at Wedbush in a note issued to investors on Thursday,Benzinga reports. They presently have a $11.00 price target on the stock. Wedbush’s target price would suggest a potential upside of 16.39% from the stock’s current price.

A number of other analysts have also recently issued reports on TMC. Weiss Ratings reissued a “sell (d-)” rating on shares of TMC the metals in a research report on Wednesday, October 8th. HC Wainwright increased their price objective on TMC the metals from $7.25 to $7.50 and gave the stock a “buy” rating in a report on Friday, November 14th. Finally, Zacks Research upgraded shares of TMC the metals from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 13th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $9.25.

TMC the metals Price Performance

Shares of TMC opened at $9.45 on Thursday. The business’s 50-day moving average is $6.77 and its 200-day moving average is $6.59. The company has a market capitalization of $3.91 billion, a price-to-earnings ratio of -12.26 and a beta of 1.85. TMC the metals has a fifty-two week low of $1.41 and a fifty-two week high of $11.35.

TMC the metals (NASDAQ:TMC) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.08). Equities research analysts expect that TMC the metals will post -0.22 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Anthony O’sullivan sold 50,000 shares of the business’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $6.77, for a total transaction of $338,500.00. Following the transaction, the insider owned 2,025,667 shares of the company’s stock, valued at approximately $13,713,765.59. The trade was a 2.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 27.60% of the company’s stock.

Hedge Funds Weigh In On TMC the metals

A number of hedge funds have recently made changes to their positions in TMC. NewEdge Advisors LLC bought a new stake in TMC the metals in the second quarter valued at about $28,000. Wolverine Asset Management LLC raised its holdings in shares of TMC the metals by 752.6% in the 2nd quarter. Wolverine Asset Management LLC now owns 4,945 shares of the company’s stock worth $33,000 after buying an additional 4,365 shares in the last quarter. Sunbelt Securities Inc. acquired a new stake in TMC the metals in the 3rd quarter valued at $34,000. KBC Group NV acquired a new position in TMC the metals during the second quarter worth $37,000. Finally, Quantbot Technologies LP bought a new position in shares of TMC the metals during the second quarter valued at $48,000. Institutional investors and hedge funds own 4.39% of the company’s stock.

About TMC the metals

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. Its products are used in electric vehicles (EV), renewable energy storage markets, EV wiring, energy transmission, manganese alloy production required for steel production, and other applications.