TMC the metals (NASDAQ:TMC) Upgraded at Zacks Research

Zacks Research upgraded shares of TMC the metals (NASDAQ:TMC) from a strong sell rating to a hold rating in a research report sent to investors on Wednesday morning,Zacks reports.

TMC has been the topic of several other research reports. Stifel Nicolaus started coverage on 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. Weiss Ratings reissued a “sell (d-)” rating on shares of TMC the metals in a research note on Thursday, October 15th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $10.44.

TMC the metals Stock Performance

Shares of TMC stock opened at $2.27 on Wednesday. The firm’s 50-day moving average is $3.42 and its 200-day moving average is $4.79. The stock has a market cap of $1.00 billion, a price-to-earnings ratio of -3.11 and a beta of 2.22. TMC the metals has a 52-week low of $1.91 and a 52-week high of $10.05.

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

Institutional Investors Weigh In On TMC the metals

Several large investors have recently modified their holdings of TMC. Arizona State Retirement System increased its stake in shares of TMC the metals by 5.2% in the 2nd quarter. Arizona State Retirement System now owns 59,765 shares of the company’s stock worth $265,000 after acquiring an additional 2,977 shares during the last quarter. Tidal Investments LLC boosted its stake in shares of TMC the metals by 39.0% during the 2nd quarter. Tidal Investments LLC now owns 17,560 shares of the company’s stock valued at $78,000 after buying an additional 4,928 shares during the last quarter. SBI Securities Co. Ltd. increased its stake in shares of TMC the metals by 52.2% during the third quarter. SBI Securities Co. Ltd. now owns 14,519 shares of the company’s stock valued at $56,000 after acquiring an additional 4,980 shares during the period. Amundi increased its holdings in TMC the metals by 13.3% in the first quarter. Amundi now owns 44,186 shares of the company’s stock worth $206,000 after buying an additional 5,202 shares during the last quarter. Finally, Money Concepts Capital Corp raised its stake in shares of TMC the metals by 58.0% in the 1st quarter. Money Concepts Capital Corp now owns 17,377 shares of the company’s stock valued at $81,000 after buying an additional 6,377 shares in the last quarter. Institutional investors own 4.39% of the company’s stock.

TMC the metals Company Profile

TMC the metals company Inc, formerly known as DeepGreen Metals, is a deep-sea minerals exploration and development company. The company is focused on polymetallic nodules, mineral-rich rocks found on the seafloor that contain nickel, copper, cobalt and manganese—metals used in batteries, renewable energy systems and other industrial applications.

Through its subsidiaries, including Nauru Ocean Resources Inc (NORI), TMC holds exploration interests in the Clarion-Clipperton Zone, an area of the Pacific Ocean between Hawaii and Mexico.