TMC the metals company Inc. (NASDAQ:TMC) Stock Has Consensus Price Target of $10.44

Shares of TMC the metals company Inc. (NASDAQ:TMC) have been given an average recommendation of “Moderate Buy” by the six research firms that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $10.44.

TMC has been the subject of a number of research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of TMC the metals in a research note on Thursday, October 15th. Stifel Nicolaus started coverage on TMC the metals in a research report on Friday, August 28th. They set a “buy” rating and a $10.00 price objective on the stock. Finally, Zacks Research cut TMC the metals from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 6th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. True Freedom Investing LLC bought a new stake in shares of TMC the metals during the third quarter valued at approximately $77,000. Pinkerton Wealth LLC bought a new position in TMC the metals in the third quarter worth $77,000. Hubbell Strickland Wealth Management LLC bought a new position in TMC the metals in the third quarter worth $190,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in TMC the metals during the third quarter valued at $115,000. Finally, Apollon Wealth Management LLC purchased a new position in TMC the metals during the third quarter valued at $52,000. Hedge funds and other institutional investors own 4.39% of the company’s stock.

TMC the metals Trading Down 8.5%

Shares of TMC the metals stock opened at $2.60 on Friday. TMC the metals has a 12-month low of $2.34 and a 12-month high of $10.05. The company has a market cap of $1.15 billion, a P/E ratio of -3.56 and a beta of 1.91. The company’s fifty day simple moving average is $3.69 and its two-hundred day simple moving average is $4.92.

TMC the metals (NASDAQ:TMC) last posted 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). Analysts predict that TMC the metals will post -0.38 EPS for the current fiscal year.

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.