TMC the metals company Inc. (NASDAQ:TMC) Given Average Recommendation of "Hold" by Brokerages

Key Points

• TMC the metals company Inc. has received a consensus rating of "Hold" from five analysts, with two analysts recommending a sell and three a buy.
• The average 12-month price target for TMC is $7.33, with recent ratings showing some volatility as Zacks downgraded the stock from "hold" to "strong sell."
• Insider trades show significant stock sales, with one insider selling over 1.5 million shares, indicating a substantial decrease of 58.14% in their position.

Shares of TMC the metals company Inc. (NASDAQ:TMC - Get Free Report) have earned a consensus rating of "Hold" from the five analysts that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $7.3333.

Several brokerages have recently weighed in on TMC. Zacks Research lowered TMC the metals from a "hold" rating to a "strong sell" rating in a report on Wednesday, October 15th. HC Wainwright reaffirmed a "buy" rating and issued a $7.25 price target on shares of TMC the metals in a research note on Monday, August 18th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of TMC the metals in a research note on Wednesday, October 8th.

TMC the metals Trading Down 3.5%

Shares of NASDAQ:TMC opened at $6.88 on Tuesday. TMC the metals has a 1-year low of $0.72 and a 1-year high of $11.35. The firm has a market capitalization of $2.80 billion, a PE ratio of -18.59 and a beta of 1.70. The business's 50 day moving average is $6.58 and its 200-day moving average is $5.55.

TMC the metals (NASDAQ:TMC - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.01). On average, sell-side analysts predict that TMC the metals will post -0.22 EPS for the current year.

Insider Buying and Selling at TMC the metals

In other TMC the metals news, insider Erika Ilves sold 1,591,485 shares of TMC the metals stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $5.77, for a total value of $9,182,868.45. Following the completion of the transaction, the insider owned 1,145,792 shares in the company, valued at approximately $6,611,219.84. The trade was a 58.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Anthony O'sullivan sold 250,000 shares of TMC the metals stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $5.25, for a total value of $1,312,500.00. Following the completion of the transaction, the insider owned 1,125,667 shares of the company's stock, valued at approximately $5,909,751.75. The trade was a 18.17% decrease in their position. The disclosure for this sale can be found here. Insiders own 27.60% of the company's stock.

Hedge Funds Weigh In On TMC the metals

Several institutional investors have recently bought and sold shares of TMC. Allworth Financial LP raised its position in TMC the metals by 48.0% in the 1st quarter. Allworth Financial LP now owns 14,796 shares of the company's stock valued at $25,000 after purchasing an additional 4,796 shares during the last quarter. Sprott Inc. bought a new stake in shares of TMC the metals during the first quarter worth $26,000. NewEdge Advisors LLC bought a new stake in shares of TMC the metals during the second quarter worth $28,000. Wolverine Asset Management LLC raised its position in shares of TMC the metals by 752.6% during the second quarter. Wolverine Asset Management LLC now owns 4,945 shares of the company's stock worth $33,000 after acquiring an additional 4,365 shares during the last quarter. Finally, KBC Group NV bought a new stake in shares of TMC the metals during the second quarter worth $37,000. Institutional investors own 4.39% of the company's stock.

About TMC the metals

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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