TMC the metals (NASDAQ:TMC) Stock Falls 4.2% - Should You Sell?

Key Points

• TMC shares fell 4.2% to $2.635, with trading volume down about 90% from the average session. The stock remains below its 50-day and 200-day moving averages.
• Analyst sentiment is mixed: the consensus rating is “Moderate Buy” with an average price target of $10.44, while recent opinions range from Stifel Nicolaus’ “buy” rating to Zacks Research’s “strong sell.”
• TMC missed its latest quarterly earnings estimate, reporting a loss of $0.14 per share versus the expected $0.06 loss; analysts project a full-year loss of $0.38 per share.

Shares of TMC the metals company Inc. (NASDAQ:TMC - Get Free Report) were down 4.2% on Wednesday. The stock traded as low as $2.65 and last traded at $2.6350. Approximately 617,455 shares changed hands during trading, a decline of 90% from the average session volume of 6,182,736 shares. The stock had previously closed at $2.75.

Wall Street Analyst Weigh In

TMC has been the subject of several recent analyst reports. Stifel Nicolaus started coverage on shares of TMC the metals in a research report on Friday, August 28th. They set a "buy" rating and a $10.00 price objective for the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of TMC the metals in a report on Thursday, October 15th. Finally, Zacks Research cut shares of TMC the metals from a "hold" rating to a "strong sell" rating in a research note on Tuesday, October 6th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $10.44.

TMC the metals Stock Down 1.6%

The firm has a market capitalization of $1.19 billion, a PE ratio of -3.69 and a beta of 1.91. The firm has a 50-day moving average price of $3.76 and a 200 day moving average price of $4.99.

TMC the metals (NASDAQ:TMC - Get Free Report) last issued its quarterly 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). Equities research analysts expect that TMC the metals company Inc. will post -0.38 earnings per share for the current year.

Institutional Trading of TMC the metals

A number of large investors have recently made changes to their positions in TMC. GK Wealth Management LLC purchased a new stake in shares of TMC the metals during the 3rd quarter worth $29,000. Consolidated Capital Management LLC purchased a new position in TMC the metals in the third quarter valued at $38,000. Lazari Capital Management Inc. acquired a new stake in TMC the metals in the third quarter valued at $38,000. Brookstone Capital Management acquired a new stake in TMC the metals in the third quarter valued at $39,000. Finally, Coastal Bridge Advisors LLC purchased a new stake in TMC the metals during the 2nd quarter worth about $44,000. 4.39% of the stock is currently owned by hedge funds and other institutional investors.

About TMC the metals

TMC the metals company Inc, formerly known as DeepGreen Metals, is a deep-sea minerals exploration and development company. The company is focused on polymetallic nodules, mineral-rich rocks found on the seafloor that contain nickel, copper, cobalt and manganese—metals used in batteries, renewable energy systems and other industrial applications.

Through its subsidiaries, including Nauru Ocean Resources Inc (NORI), TMC holds exploration interests in the Clarion-Clipperton Zone, an area of the Pacific Ocean between Hawaii and Mexico.

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