FY2028 EPS Estimates for TMC the metals Decreased by Wedbush

Key Points

• Wedbush has decreased its FY2028 earnings per share estimate for TMC the metals to $0.36, down from a previous estimate of $0.37, while maintaining an "Outperform" rating and a target price of $11.00.
• The company reported a quarterly EPS of ($0.07), which missed the consensus estimate of ($0.06) by $0.01.
• Insider transactions show significant selling activity, with a total of 233,521 shares sold by insiders in the last 90 days, reflecting a potential lack of confidence in the stock's performance.

TMC the metals company Inc. (NASDAQ:TMC - Free Report) - Equities researchers at Wedbush lowered their FY2028 earnings per share estimates for shares of TMC the metals in a research report issued on Friday, August 15th. Wedbush analyst D. Ives now expects that the company will post earnings per share of $0.36 for the year, down from their previous estimate of $0.37. Wedbush currently has a "Outperform" rating and a $11.00 target price on the stock. The consensus estimate for TMC the metals' current full-year earnings is ($0.22) per share.

TMC the metals (NASDAQ:TMC - Get Free Report) last issued its earnings results on Thursday, August 14th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.01).

Separately, HC Wainwright lifted their target price on TMC the metals from $5.50 to $7.25 and gave the stock a "buy" rating in a research report on Wednesday, August 6th.

TMC the metals Trading Down 9.1%

Shares of TMC opened at $4.92 on Monday. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of -13.30 and a beta of 1.59. The stock has a 50 day moving average of $6.31 and a 200-day moving average of $3.87. TMC the metals has a 52 week low of $0.72 and a 52 week high of $8.63.

Insider Buying and Selling

In related news, Director Brendan May sold 44,204 shares of the business's stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $7.38, for a total transaction of $326,225.52. Following the completion of the transaction, the director owned 197,586 shares in the company, valued at $1,458,184.68. The trade was a 18.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Anthony O'sullivan sold 164,317 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $4.49, for a total value of $737,783.33. Following the transaction, the insider owned 1,125,667 shares of the company's stock, valued at $5,054,244.83. This represents a 12.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 233,521 shares of company stock valued at $1,259,009 in the last 90 days. Insiders own 27.60% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Manhattan CO. LLC. boosted its position in TMC the metals by 115.2% during the 4th quarter. First Manhattan CO. LLC. now owns 18,726,800 shares of the company's stock valued at $20,974,000 after purchasing an additional 10,025,000 shares during the period. Old West Investment Management LLC raised its stake in TMC the metals by 100.0% during the 1st quarter. Old West Investment Management LLC now owns 4,270,076 shares of the company's stock valued at $7,345,000 after acquiring an additional 2,135,038 shares in the last quarter. Baird Financial Group Inc. raised its stake in TMC the metals by 35.1% during the 1st quarter. Baird Financial Group Inc. now owns 2,946,027 shares of the company's stock valued at $5,067,000 after acquiring an additional 766,167 shares in the last quarter. Jane Street Group LLC raised its stake in TMC the metals by 7,330.9% during the 4th quarter. Jane Street Group LLC now owns 1,345,812 shares of the company's stock valued at $1,507,000 after acquiring an additional 1,364,424 shares in the last quarter. Finally, Jump Financial LLC bought a new stake in TMC the metals during the 2nd quarter valued at $6,216,000. Institutional investors and hedge funds 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.

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