TMC the metals company Inc. (NASDAQ:TMC) Receives Consensus Recommendation of “Hold” from Analysts

Shares of TMC the metals company Inc. (NASDAQ:TMC) have received an average recommendation of “Hold” from the five research firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $10.5833.

TMC has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of TMC the metals in a research report on Monday, April 20th. Wedbush boosted their price target on TMC the metals from $8.00 to $10.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. Wall Street Zen raised TMC the metals from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Maxim Group initiated coverage on TMC the metals in a research report on Thursday, June 4th. They set a “buy” rating and a $10.00 price target on the stock. Finally, HC Wainwright reissued a “buy” rating and set a $11.75 price target on shares of TMC the metals in a research report on Tuesday, June 2nd.

TMC the metals Price Performance

Shares of NASDAQ:TMC opened at $4.83 on Thursday. The company’s 50-day moving average price is $5.29 and its two-hundred day moving average price is $6.13. The stock has a market capitalization of $2.09 billion, a PE ratio of -6.11 and a beta of 1.99. TMC the metals has a one year low of $3.93 and a one year high of $11.35.

TMC the metals (NASDAQ:TMC) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. On average, analysts anticipate that TMC the metals will post -0.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other TMC the metals news, Director Brendan May sold 20,768 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $6.42, for a total value of $133,330.56. Following the transaction, the director directly owned 193,346 shares of the company’s stock, valued at $1,241,281.32. This represents a 9.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 28.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TMC. Goldman Sachs Group Inc. bought a new position in TMC the metals in the 1st quarter valued at about $211,000. Geode Capital Management LLC raised its holdings in TMC the metals by 79.6% in the 2nd quarter. Geode Capital Management LLC now owns 330,823 shares of the company’s stock valued at $2,183,000 after acquiring an additional 146,650 shares during the period. Creative Planning bought a new position in TMC the metals in the 2nd quarter valued at about $76,000. Cetera Investment Advisers bought a new position in TMC the metals in the 2nd quarter valued at about $168,000. Finally, Quantbot Technologies LP bought a new position in TMC the metals in the 2nd quarter valued at about $48,000. 4.39% of the stock is owned by institutional investors.

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 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.