TMC the metals (NASDAQ:TMC) Rating Increased to Strong-Buy at Stifel Nicolaus

Key Points

• Stifel Nicolaus upgraded TMC the metals to “strong buy,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $10.44.
• TMC shares were trading at $4.81 after a reported 5.5% decline; the stock has ranged from $3.40 to $11.35 over the past year and has a market capitalization of about $2.12 billion.
• The company reported a quarterly loss of $0.14 per share, missing the $0.06 consensus loss estimate, while an insider sold shares to cover tax obligations and institutional ownership stood at 4.39%.

TMC the metals (NASDAQ:TMC - Get Free Report) was upgraded by stock analysts at Stifel Nicolaus to a "strong-buy" rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Several other equities analysts have also recently issued reports on TMC. Wedbush boosted their price objective on shares of TMC the metals from $8.00 to $10.00 and gave the company an "outperform" rating in a research note on Monday, May 4th. HC Wainwright restated a "buy" rating and issued a $11.75 target price 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 report on Friday, July 17th. Maxim Group assumed coverage on shares of TMC the metals in a research note on Thursday, June 4th. They set a "buy" rating and a $10.00 price target on the stock. Finally, Wall Street Zen raised shares of TMC the metals from a "strong sell" rating to a "sell" rating in a report on Saturday, May 16th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $10.44.

TMC the metals Trading Down 5.5%

Shares of TMC stock opened at $4.81 on Thursday. The business's 50 day moving average is $4.19 and its two-hundred day moving average is $5.04. TMC the metals has a twelve month low of $3.40 and a twelve month high of $11.35. The company has a market capitalization of $2.12 billion, a P/E ratio of -6.59 and a beta of 2.06.

TMC the metals (NASDAQ:TMC - Get Free Report) last released its 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). As a group, equities analysts predict that TMC the metals will post -0.32 earnings per share for the current fiscal year.

Insider Transactions at TMC the metals

In other TMC the metals news, Director Brendan May sold 20,768 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $6.42, for a total value of $133,330.56. Following the completion of the transaction, the director owned 193,346 shares in the company, valued at approximately $1,241,281.32. This represents a 9.70% decrease in their ownership of the stock. 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. Insiders own 28.50% of the company's stock.

Hedge Funds Weigh In On TMC the metals

Institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its stake in shares of TMC the metals by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 371,142 shares of the company's stock valued at $2,288,000 after purchasing an additional 1,566 shares during the period. NewEdge Advisors LLC acquired a new position in TMC the metals during the second quarter worth about $28,000. Osterweis Capital Management Inc. acquired a new position in TMC the metals during the fourth quarter worth about $29,000. Farther Finance Advisors LLC increased its holdings in TMC the metals by 465.8% in the fourth quarter. Farther Finance Advisors LLC now owns 5,686 shares of the company's stock valued at $35,000 after buying an additional 4,681 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in TMC the metals in the fourth quarter valued at about $29,000. 4.39% of the stock is owned by institutional investors and hedge funds.

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.

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