Stifel Nicolaus Begins Coverage on TMC the metals (NASDAQ:TMC)

Research analysts at Stifel Nicolaus started coverage on shares of TMC the metals (NASDAQ:TMC - Get Free Report) in a report released on Friday. The firm set a "buy" rating and a $10.00 price target on the stock. Stifel Nicolaus' target price would indicate a potential upside of 96.46% from the company's previous close.

Other research analysts have also recently issued research reports about the stock. Wedbush increased their target price on shares of TMC the metals from $8.00 to $10.00 and gave the stock an "outperform" rating in a report on Monday, May 4th. Weiss Ratings reiterated a "sell (d-)" rating on shares of TMC the metals in a research report on Friday, July 17th. HC Wainwright reissued a "buy" rating and issued a $11.75 price objective on shares of TMC the metals in a research note on Tuesday, June 2nd. Wall Street Zen upgraded shares of TMC the metals from a "strong sell" rating to a "sell" rating in a research report on Saturday, May 16th. Finally, Maxim Group initiated coverage on shares of TMC the metals in a research note on Thursday, June 4th. They set a "buy" rating and a $10.00 target price on the stock. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $10.44.

TMC the metals Stock Up 1.6%

Shares of TMC stock opened at $5.09 on Friday. TMC the metals has a twelve month low of $3.40 and a twelve month high of $11.35. The company has a market cap of $2.25 billion, a P/E ratio of -6.97 and a beta of 2.06. The business has a fifty day simple moving average of $4.19 and a 200 day simple moving average of $5.04.

TMC the metals (NASDAQ:TMC - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.08). As a group, equities research analysts anticipate that TMC the metals will post -0.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In other TMC the metals news, Director Brendan May sold 20,768 shares of the business's stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $6.42, for a total transaction of $133,330.56. Following the sale, the director directly owned 193,346 shares of the company's stock, valued at $1,241,281.32. The trade was a 9.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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.

Hedge Funds Weigh In On TMC the metals

Several large investors have recently modified their holdings of the business. Goldman Sachs Group Inc. bought a new stake in shares of TMC the metals in the first quarter worth $211,000. Geode Capital Management LLC lifted its holdings in TMC the metals by 79.6% during the 2nd quarter. Geode Capital Management LLC now owns 330,823 shares of the company's stock worth $2,183,000 after buying an additional 146,650 shares during the period. Creative Planning acquired a new position in TMC the metals during the 2nd quarter worth about $76,000. Cetera Investment Advisers bought a new stake in shares of TMC the metals in the 2nd quarter valued at about $168,000. Finally, Quantbot Technologies LP bought a new stake in shares of TMC the metals in the 2nd quarter valued at about $48,000. Institutional investors own 4.39% of the company's stock.

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.

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