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

Key Points

• TMC the metals company Inc. has received a consensus rating of "Moderate Buy" from four analysts, with a target price averaging $7.33.
• The company's stock traded up 4.1% to reach $7.41, and it has a market cap of $3.01 billion.
• Insider trading activity includes significant share sales, with one insider reducing their ownership by 58.14%.

TMC the metals company Inc. (NASDAQ:TMC - Get Free Report) has earned a consensus rating of "Moderate Buy" from the four analysts that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $7.3333.

TMC has been the topic of a number of research reports. Wedbush upgraded shares of TMC the metals from a "neutral" rating to an "outperform" rating and upped their target price for the stock from $6.00 to $11.00 in a research report on Wednesday, June 25th. HC Wainwright reiterated a "buy" rating and set a $7.25 target price on shares of TMC the metals in a research report on Monday, August 18th. Zacks Research raised shares of TMC the metals from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 19th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of TMC the metals in a report on Saturday, September 27th.

TMC the metals Trading Up 4.1%

NASDAQ TMC traded up $0.29 on Friday, reaching $7.41. The company's stock had a trading volume of 10,509,388 shares, compared to its average volume of 8,340,044. The firm has a market cap of $3.01 billion, a PE ratio of -20.03 and a beta of 1.70. TMC the metals has a 52 week low of $0.72 and a 52 week high of $8.63. The business has a 50-day moving average price of $5.66 and a 200 day moving average price of $4.71.

TMC the metals (NASDAQ:TMC - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The company reported ($0.07) EPS for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.01). Analysts anticipate that TMC the metals will post -0.22 earnings per share for the current fiscal year.

Insider Buying and Selling at TMC the metals

In other news, insider Erika Ilves sold 1,591,485 shares of the stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $5.77, for a total transaction of $9,182,868.45. Following the completion of the sale, the insider owned 1,145,792 shares of the company's stock, valued at $6,611,219.84. This represents a 58.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anthony O'sullivan sold 250,000 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $5.25, for a total transaction of $1,312,500.00. Following the sale, the insider directly owned 1,125,667 shares of the company's stock, valued at $5,909,751.75. This represents a 18.17% decrease in their position. The disclosure for this sale can be found here. Company insiders own 27.60% of the company's stock.

Institutional Trading of TMC the metals

Large investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC bought a new stake in shares of TMC the metals during the 2nd quarter worth about $28,000. Wolverine Asset Management LLC raised its position in shares of TMC the metals by 752.6% in the 2nd quarter. Wolverine Asset Management LLC now owns 4,945 shares of the company's stock valued at $33,000 after buying an additional 4,365 shares in the last quarter. KBC Group NV acquired a new position in TMC the metals during the 2nd quarter worth approximately $37,000. Quantbot Technologies LP acquired a new position in TMC the metals during the 2nd quarter worth approximately $48,000. Finally, Marex Group plc acquired a new position in TMC the metals during the 2nd quarter worth approximately $66,000. Institutional investors and hedge funds own 4.39% of the company's stock.

TMC the metals Company Profile

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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