TMC the metals company Inc. (TMC) – What Are Analysts Thinking About This Stock?

TMC the metals company Inc. (NASDAQ:TMC) has been given a consensus rating of “Moderate Buy” by the six analysts that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $10.44.

A number of equities analysts recently commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of TMC the metals in a report on Friday, July 17th. Zacks Research lowered shares of TMC the metals from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 6th. Finally, Stifel Nicolaus began coverage on shares of TMC the metals in a research note on Friday, August 28th. They set a “buy” rating and a $10.00 price target on the stock.

Institutional Investors Weigh In On TMC the metals

Large investors have recently added to or reduced their stakes in the business. Encompass Capital Advisors LLC purchased a new stake in TMC the metals during the 4th quarter worth about $18,510,000. BlackRock Inc. acquired a new stake in TMC the metals in the 2nd quarter valued at about $6,556,000. Old West Investment Management LLC purchased a new position in shares of TMC the metals in the 2nd quarter valued at about $5,334,000. Renaissance Technologies LLC purchased a new position in shares of TMC the metals in the 1st quarter valued at about $3,409,000. Finally, Mirador Capital Partners LP acquired a new position in shares of TMC the metals during the third quarter worth about $2,448,000. 4.39% of the stock is owned by hedge funds and other institutional investors.

TMC the metals Stock Down 2.1%

TMC opened at $2.82 on Wednesday. TMC the metals has a 52 week low of $2.72 and a 52 week high of $10.87. The business has a fifty day simple moving average of $4.10 and a 200-day simple moving average of $4.57. The firm has a market cap of $1.24 billion, a P/E ratio of -3.86 and a beta of 1.91.

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

About TMC the metals

TMC the metals company is a mineral exploration and development company focused on collecting polymetallic nodules from the seafloor. These potato-sized rocks contain nickel, copper, cobalt and manganese, metals used in rechargeable batteries, electric vehicles and other energy-transition technologies.

The company’s activities center on nodule resources in the Clarion-Clipperton Zone of the Pacific Ocean, an area between Mexico and Hawaii. TMC is developing technologies and operating plans for seafloor nodule collection, transport and processing, with the goal of producing battery metals while limiting some of the land disturbance associated with conventional mining.