Wedbush Equities Analysts Lift Earnings Estimates for TMC the metals company Inc. (NASDAQ:TMC)

TMC the metals company Inc. (NASDAQ:TMC) – Wedbush upped their Q1 2024 earnings estimates for TMC the metals in a report released on Wednesday, March 27th. Wedbush analyst D. Ives now anticipates that the company will post earnings per share of ($0.05) for the quarter, up from their prior estimate of ($0.15). The consensus estimate for TMC the metals’ current full-year earnings is ($0.34) per share. Wedbush also issued estimates for TMC the metals’ Q2 2024 earnings at ($0.05) EPS, Q3 2024 earnings at ($0.06) EPS, Q4 2024 earnings at ($0.06) EPS, FY2024 earnings at ($0.23) EPS and FY2025 earnings at ($0.07) EPS.

TMC the metals Trading Up 6.7 %

NASDAQ TMC opened at $1.43 on Friday. The company has a fifty day simple moving average of $1.41 and a two-hundred day simple moving average of $1.20. The stock has a market cap of $436.38 million, a P/E ratio of -7.15 and a beta of 1.82. TMC the metals has a 12-month low of $0.65 and a 12-month high of $3.20.

Institutional Trading of TMC the metals

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sunpointe LLC purchased a new position in TMC the metals in the fourth quarter valued at $25,000. Bank of New York Mellon Corp purchased a new position in TMC the metals in the second quarter valued at $27,000. Royal Bank of Canada purchased a new position in TMC the metals in the first quarter valued at $27,000. Walleye Trading LLC purchased a new position in TMC the metals in the first quarter valued at $28,000. Finally, Founders Financial Securities LLC increased its holdings in TMC the metals by 93.8% in the third quarter. Founders Financial Securities LLC now owns 31,000 shares of the company’s stock valued at $31,000 after buying an additional 15,000 shares in the last quarter. Institutional investors and hedge funds own 4.39% of the company’s stock.

Insider Transactions at TMC the metals

In other news, CFO Craig Shesky sold 233,424 shares of the stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $1.61, for a total value of $375,812.64. Following the sale, the chief financial officer now owns 947,242 shares in the company, valued at $1,525,059.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 31.30% 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 the Clarion Clipperton Zone (CCZ) in the south-west of San Diego, California. It primarily explores for nickel, cobalt, copper, and manganese products.