TMC the metals (NASDAQ:TMC) Given New $10.00 Price Target at Wedbush

TMC the metals (NASDAQ:TMC) had its price objective lifted by Wedbush from $8.00 to $10.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Wedbush’s target price would indicate a potential upside of 85.19% from the company’s previous close.

A number of other analysts also recently issued reports on the stock. HC Wainwright raised their price objective on shares of TMC the metals from $7.50 to $11.75 and gave the stock a “buy” rating in a report on Friday, January 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of TMC the metals in a report on Monday, April 20th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $10.88.

TMC the metals Price Performance

Shares of TMC stock opened at $5.40 on Monday. The firm has a 50-day moving average of $5.36 and a 200-day moving average of $6.32. The company has a market cap of $2.34 billion, a P/E ratio of -6.75 and a beta of 1.97. TMC the metals has a one year low of $2.81 and a one year high of $11.35.

Hedge Funds Weigh In On TMC the metals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC bought a new position in TMC the metals during the second quarter worth about $28,000. Osterweis Capital Management Inc. bought a new position in shares of TMC the metals in the fourth quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd bought a new stake in TMC the metals during the fourth quarter valued at approximately $29,000. Sunbelt Securities Inc. bought a new stake in TMC the metals during the third quarter valued at approximately $34,000. Finally, Farther Finance Advisors LLC lifted its position in TMC the metals by 465.8% during the fourth quarter. Farther Finance Advisors LLC now owns 5,686 shares of the company’s stock valued at $35,000 after purchasing an additional 4,681 shares during the last quarter. Institutional investors 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.