TMC the metals company Inc. (NASDAQ:TMC) Given Consensus Rating of “Moderate Buy” by Analysts

TMC the metals company Inc. (NASDAQ:TMC) has been given a consensus rating of “Moderate Buy” by the six ratings firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $10.4375.

TMC has been the topic of a number of research reports. Stifel Nicolaus began coverage on shares of TMC the metals in a research report on Friday, August 28th. They set a “buy” rating and a $10.00 target price on the stock. Maxim Group initiated coverage on shares of TMC the metals in a report on Thursday, June 4th. They issued a “buy” rating and a $10.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and issued a $11.75 price target on shares of TMC the metals in a research note on Tuesday, June 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TMC the metals in a research note on Friday, July 17th. Finally, Wall Street Zen upgraded shares of TMC the metals from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th.

Institutional Trading of TMC the metals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC acquired a new position in TMC the metals during the 1st quarter worth approximately $3,409,000. BlackRock Inc. acquired a new stake in TMC the metals in the second quarter valued at approximately $6,556,000. GSA Capital Partners LLP grew its stake in TMC the metals by 123.8% in the fourth quarter. GSA Capital Partners LLP now owns 220,510 shares of the company’s stock valued at $1,361,000 after acquiring an additional 121,961 shares during the period. Old West Investment Management LLC bought a new stake in shares of TMC the metals during the second quarter valued at approximately $5,334,000. Finally, SLT Holdings LLC bought a new stake in shares of TMC the metals during the fourth quarter valued at approximately $1,223,000. 4.39% of the stock is owned by institutional investors.

TMC the metals Stock Performance

Shares of TMC stock opened at $3.93 on Friday. TMC the metals has a fifty-two week low of $3.40 and a fifty-two week high of $11.35. The stock has a 50 day simple moving average of $4.17 and a two-hundred day simple moving average of $4.91. The company has a market cap of $1.73 billion, a P/E ratio of -5.38 and a beta of 2.10.

TMC the metals (NASDAQ:TMC) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.08). On average, research analysts predict that TMC the metals will post -0.33 earnings per share for the current year.

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.