TMC the metals (NASDAQ:TMC) Stock Rating Raised to “Hold” at Zacks Research

Zacks Research upgraded shares of TMC the metals (NASDAQ:TMC) from a strong sell rating to a hold rating in a report released on Wednesday,Zacks reports.

TMC has been the topic of several other reports. Weiss Ratings restated a “sell (d-)” rating on shares of TMC the metals in a research note on Thursday, October 15th. Stifel Nicolaus assumed coverage on shares of TMC the metals in a report on Friday, August 28th. They issued a “buy” rating and a $10.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.44.

TMC the metals Stock Down 10.4%

Shares of NASDAQ TMC opened at $2.07 on Wednesday. The stock’s 50 day moving average price is $3.48 and its two-hundred day moving average price is $4.82. TMC the metals has a 52-week low of $1.91 and a 52-week high of $10.05. The stock has a market capitalization of $913.15 million, a P/E ratio of -2.84 and a beta of 2.22.

TMC the metals (NASDAQ:TMC) last issued 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). On average, analysts anticipate that TMC the metals will post -0.38 EPS for the current year.

Hedge Funds Weigh In On TMC the metals

Large investors have recently bought and sold shares of the business. Moneco Advisors LLC bought a new stake in TMC the metals in the third quarter valued at $42,000. Searle & CO. bought a new position in shares of TMC the metals during the third quarter worth about $38,000. Fulcrum Asset Management LLP bought a new position in shares of TMC the metals during the third quarter worth about $98,000. Parallel Advisors LLC bought a new position in shares of TMC the metals during the third quarter worth about $42,000. Finally, Waldron Private Wealth LLC acquired a new stake in shares of TMC the metals in the 3rd quarter worth about $61,000. Institutional investors own 4.39% of the company’s stock.

About TMC the metals

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.