TMC the metals (NASDAQ:TMC) Trading Up 8.9% - Should You Buy?

Key Points

• TMC shares rose 8.9% to about $4.12 in mid-day trading, although volume was 51% below the average session volume.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $10.44; however, Weiss Ratings maintains a sell rating.
• The company reported a quarterly loss of $0.14 per share, missing estimates by $0.08, and analysts expect a full-year loss of $0.33 per share. Institutional ownership remains limited at 4.39%.

TMC the metals company Inc. (NASDAQ:TMC - Get Free Report) shot up 8.9% on Monday . The company traded as high as $4.12 and last traded at $4.1150. Approximately 3,113,234 shares changed hands during mid-day trading, a decline of 51% from the average session volume of 6,378,901 shares. The stock had previously closed at $3.78.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on TMC shares. Stifel Nicolaus assumed coverage on TMC the metals in a research report on Friday, August 28th. They set a "buy" rating and a $10.00 price target on the stock. HC Wainwright reiterated a "buy" rating and set a $11.75 target price on shares of TMC the metals in a research note on Tuesday, June 2nd. Maxim Group started coverage on shares of TMC the metals in a report on Thursday, June 4th. They set a "buy" rating and a $10.00 target price on the stock. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of TMC the metals in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, TMC the metals presently has a consensus rating of "Moderate Buy" and an average price target of $10.44.

TMC the metals Price Performance

The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of -5.61 and a beta of 2.10. The company has a 50-day simple moving average of $4.13 and a two-hundred day simple moving average of $4.81.

TMC the metals (NASDAQ:TMC - Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.08). Research analysts anticipate that TMC the metals company Inc. will post -0.33 EPS for the current year.

Institutional Investors Weigh In On TMC the metals

Several large investors have recently made changes to their positions in the company. Renaissance Technologies LLC bought a new stake in shares of TMC the metals during the first quarter valued at about $3,409,000. BlackRock Inc. acquired a new stake in TMC the metals in the second quarter worth about $6,556,000. Amundi grew its position in TMC the metals by 625.7% in the 2nd quarter. Amundi now owns 320,673 shares of the company's stock valued at $1,421,000 after buying an additional 276,487 shares in the last quarter. Old West Investment Management LLC bought a new position in TMC the metals in the 2nd quarter valued at about $5,334,000. Finally, WINTON GROUP Ltd acquired a new position in TMC the metals during the 2nd quarter valued at about $975,000. Institutional investors and hedge funds own 4.39% of the company's stock.

About TMC the metals

The Metals Company NASDAQ: TMC is a deep-sea minerals exploration and development company focused on the potential recovery of polymetallic nodules from the ocean floor. These potato-sized nodules contain nickel, copper, cobalt and manganese, metals used in batteries, electric vehicles, renewable energy infrastructure and other industrial applications.

The company's primary exploration interests are in the Clarion-Clipperton Zone, an area of the Pacific Ocean between Mexico and Hawaii.

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