TMC the metals (NASDAQ:TMC) Stock Jumps 13% - Still a Buy?

Key Points

• TMC shares rose 13% to about $2.56, while trading volume was roughly 83% below the stock’s average daily volume.
• Analyst sentiment is mixed but leans positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of $10.44, alongside ratings ranging from Strong Buy to Sell.
• The company reported a quarterly loss of $0.14 per share, missing analyst expectations of a $0.06 loss; analysts forecast a full-year loss of $0.38 per share.

TMC the metals company Inc. (NASDAQ:TMC - Get Free Report)'s share price was up 13% on Monday. The company traded as high as $2.50 and last traded at $2.5640. Approximately 1,045,150 shares were traded during trading, a decline of 83% from the average daily volume of 6,141,612 shares. The stock had previously closed at $2.27.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Stifel Nicolaus assumed coverage on shares of TMC the metals in a research report on Friday, August 28th. They issued a "buy" rating and a $10.00 target price for the company. Weiss Ratings restated a "sell (d-)" rating on shares of TMC the metals in a research note on Thursday, October 15th. Finally, Zacks Research raised TMC the metals from a "strong sell" rating to a "hold" rating in a report on Wednesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $10.44.

TMC the metals Stock Up 14.3%

The business's fifty day moving average is $3.42 and its 200-day moving average is $4.79. The company has a market cap of $1.14 billion, a PE ratio of -3.57 and a beta of 2.22.

TMC the metals (NASDAQ:TMC - Get Free Report) last announced its earnings results on Thursday, August 13th. The company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.08). Analysts forecast that TMC the metals company Inc. will post -0.38 EPS for the current fiscal year.

Hedge Funds Weigh In On TMC the metals

Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in shares of TMC the metals during the second quarter worth about $6,556,000. Old West Investment Management LLC purchased a new stake in TMC the metals during the 2nd quarter valued at approximately $5,334,000. State Street Corp grew its holdings in TMC the metals by 15.9% during the 2nd quarter. State Street Corp now owns 1,143,002 shares of the company's stock valued at $5,063,000 after buying an additional 156,852 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of TMC the metals during the first quarter valued at approximately $3,409,000. Finally, Mirador Capital Partners LP bought a new stake in shares of TMC the metals during the third quarter valued at approximately $2,448,000. 4.39% of the stock is owned by 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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