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

Key Points

• TMC the metals has a consensus analyst rating of "Hold" from five brokerages, with three buy ratings, one hold, and one sell. The average 12-month price target is about $10.58.
• The stock last traded at $3.81, near its 52-week low of $3.57 and well below its high of $11.35. It has a market cap of $1.65 billion and a high beta of 2.03, indicating elevated volatility.
• TMC reported a quarterly EPS loss of ($0.05), slightly better than the expected ($0.06). Insider activity also included a director selling shares, while institutional ownership remains relatively modest at 4.39%.

Shares of TMC the metals company Inc. (NASDAQ:TMC - Get Free Report) have received an average recommendation of "Hold" from the five brokerages that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $10.5833.

A number of equities research analysts recently weighed in on TMC shares. Weiss Ratings reissued a "sell (d-)" rating on shares of TMC the metals in a research report on Friday, July 17th. Wall Street Zen raised TMC the metals from a "strong sell" rating to a "sell" rating in a report on Saturday, May 16th. HC Wainwright reiterated a "buy" rating and issued a $11.75 price objective on shares of TMC the metals in a research report on Tuesday, June 2nd. Wedbush lifted their price objective on TMC the metals from $8.00 to $10.00 and gave the stock an "outperform" rating in a report on Monday, May 4th. Finally, Maxim Group assumed coverage on TMC the metals in a research report on Thursday, June 4th. They set a "buy" rating and a $10.00 price objective on the stock.

TMC the metals Price Performance

NASDAQ:TMC opened at $3.81 on Friday. TMC the metals has a one year low of $3.57 and a one year high of $11.35. The company has a fifty day moving average price of $4.84 and a 200 day moving average price of $5.61. The stock has a market cap of $1.65 billion, a P/E ratio of -4.82 and a beta of 2.03.

TMC the metals (NASDAQ:TMC - Get Free Report) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.01. As a group, equities research analysts anticipate that TMC the metals will post -0.31 EPS for the current year.

Insiders Place Their Bets

In other TMC the metals news, Director Brendan May sold 20,768 shares of TMC the metals stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $6.42, for a total transaction of $133,330.56. Following the sale, the director owned 193,346 shares in the company, valued at $1,241,281.32. The trade was a 9.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 28.50% of the stock is owned by corporate insiders.

Institutional Trading of TMC the metals

Several institutional investors have recently made changes to their positions in TMC. NewEdge Advisors LLC bought a new position in TMC the metals during the second quarter worth about $28,000. Osterweis Capital Management Inc. bought a new stake in shares of TMC the metals in the 4th quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of TMC the metals in the 4th quarter valued at approximately $29,000. Sunbelt Securities Inc. acquired a new position in shares of TMC the metals in the 3rd quarter worth approximately $34,000. Finally, Farther Finance Advisors LLC raised its holdings in shares of TMC the metals by 465.8% in the 4th quarter. Farther Finance Advisors LLC now owns 5,686 shares of the company's stock worth $35,000 after buying an additional 4,681 shares in the last quarter. 4.39% of the stock is currently owned by institutional investors and hedge funds.

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. Its products are used in electric vehicles (EV), renewable energy storage markets, EV wiring, energy transmission, manganese alloy production required for steel production, and other applications.

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