Analysts Set Expectations for TMC the metals FY2028 Earnings

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) - Research analysts at Wedbush reduced their FY2028 earnings estimates for TMC the metals in a research note issued to investors on Friday, August 15th. Wedbush analyst D. Ives now forecasts that the company will post earnings per share of $0.36 for the year, down from their prior forecast of $0.37. Wedbush has a "Outperform" rating and a $11.00 price objective 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) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.01).

A number of other equities analysts have also weighed in on the stock. Zacks Research upgraded shares of TMC the metals from a "strong sell" rating to a "hold" rating in a research report on Tuesday. HC Wainwright restated a "buy" rating and issued a $7.25 price objective on shares of TMC the metals in a research report on Monday, August 18th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, TMC the metals has an average rating of "Moderate Buy" and a consensus target price of $7.33.

TMC the metals Price Performance

NASDAQ:TMC traded down $0.09 on Monday, reaching $4.86. 8,039,169 shares of the company's stock were exchanged, compared to its average volume of 10,916,327. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of -13.13 and a beta of 1.59. TMC the metals has a 52 week low of $0.72 and a 52 week high of $8.63. The stock has a fifty day simple moving average of $6.35 and a 200-day simple moving average of $3.96.

Insiders Place Their Bets

In related news, Director Brendan May sold 44,204 shares of the firm's stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $7.38, for a total value of $326,225.52. Following the sale, the director directly owned 197,586 shares of the company's stock, valued at $1,458,184.68. This trade represents a 18.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 27.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On TMC the metals

Institutional investors and hedge funds have recently bought and sold shares of the stock. NewEdge Advisors LLC purchased a new stake in TMC the metals in the second quarter valued at approximately $28,000. Wolverine Asset Management LLC raised its stake in TMC the metals by 752.6% in the second quarter. Wolverine Asset Management LLC now owns 4,945 shares of the company's stock valued at $33,000 after purchasing an additional 4,365 shares in the last quarter. KBC Group NV purchased a new stake in TMC the metals in the second quarter valued at approximately $37,000. Quantbot Technologies LP purchased a new position in shares of TMC the metals during the second quarter worth approximately $48,000. Finally, Marex Group plc purchased a new position in shares of TMC the metals during the second quarter worth approximately $66,000. 4.39% of the stock is owned by hedge funds and other institutional investors.

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.