TMC the metals company Inc. (NASDAQ:TMC) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• TMC the metals has a “Moderate Buy” consensus from six analysts: three rate it Buy, one Strong Buy, one Hold, and one Sell. The average 12-month price target is $10.44, versus a recent share price of $3.93.
• Institutional investors have increased exposure, with new stakes from BlackRock, Renaissance Technologies, Old West Investment Management, and SLT Holdings; institutions collectively own 4.39% of the company.
• TMC faces weak financial performance: it reported a quarterly loss of $0.14 per share, missing the $0.06 loss estimate, and analysts expect a full-year loss of $0.33 per share.

Shares of TMC the metals company Inc. (NASDAQ:TMC - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the six research firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $10.4375.

A number of equities research analysts have commented on the company. HC Wainwright reiterated a "buy" rating and issued a $11.75 price target on shares of TMC the metals in a research report on Tuesday, June 2nd. Wall Street Zen upgraded TMC the metals from a "strong sell" rating to a "sell" rating in a research report on Saturday, May 16th. Maxim Group initiated coverage on TMC the metals in a research note on Thursday, June 4th. They issued a "buy" rating and a $10.00 price objective on the stock. Stifel Nicolaus started coverage on TMC the metals in a report on Friday, August 28th. They issued a "buy" rating and a $10.00 target price on the stock. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of TMC the metals in a report on Friday, July 17th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC acquired a new position in TMC the metals in the first quarter valued at $3,409,000. BlackRock Inc. bought a new stake in TMC the metals during the second quarter valued at $6,556,000. GSA Capital Partners LLP grew its holdings in TMC the metals by 123.8% during the 4th quarter. GSA Capital Partners LLP now owns 220,510 shares of the company's stock worth $1,361,000 after acquiring an additional 121,961 shares during the period. Old West Investment Management LLC acquired a new stake in TMC the metals during the 2nd quarter worth about $5,334,000. Finally, SLT Holdings LLC acquired a new stake in TMC the metals during the 4th quarter worth about $1,223,000. Institutional investors and hedge funds own 4.39% of the company's stock.

TMC the metals Stock Performance

Shares of NASDAQ:TMC opened at $3.93 on Friday. The firm has a market cap of $1.73 billion, a PE ratio of -5.38 and a beta of 2.10. The firm's fifty day moving average is $4.17 and its 200-day moving average is $4.91. TMC the metals has a 52 week low of $3.40 and a 52 week high of $11.35.

TMC the metals (NASDAQ:TMC - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.14) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.08). Sell-side analysts forecast that TMC the metals will post -0.33 EPS 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.

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