TMC the metals company Inc. (NASDAQ:TMC) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Analysts give TMC an average rating of "Hold" based on five analysts (1 sell, 1 hold, 3 buy), with a mean 12‑month price target of $7.42.
• TMC reported quarterly EPS of ($0.14), missing the consensus of ($0.06) and analysts expect FY EPS of about -0.22; the stock opened at $6.88, has a market cap of $2.84B, a P/E of -8.93 and a 52‑week range of $0.72–$11.35.
• Insiders have been net sellers: Erika Ilves sold 1,591,485 shares (a 58.14% reduction in her holding) and insiders sold ~1.69M shares worth ~$9.85M over the last three months, while insiders still own 27.60% of the stock.

TMC the metals company Inc. (NASDAQ:TMC - Get Free Report) has been given an average rating of "Hold" by the five analysts that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $7.4167.

Several brokerages recently issued reports on TMC. Weiss Ratings reissued a "sell (d-)" rating on shares of TMC the metals in a report on Wednesday, October 8th. Zacks Research raised TMC the metals from a "strong sell" rating to a "hold" rating in a research report on Thursday, November 13th. Finally, HC Wainwright boosted their price objective on TMC the metals from $7.25 to $7.50 and gave the company a "buy" rating in a report on Friday, November 14th.

TMC the metals Stock Up 6.2%

TMC the metals stock opened at $6.88 on Wednesday. The stock has a 50-day moving average price of $6.94 and a 200 day moving average price of $6.32. The company has a market capitalization of $2.84 billion, a price-to-earnings ratio of -8.93 and a beta of 1.82. TMC the metals has a 52 week low of $0.72 and a 52 week high of $11.35.

TMC the metals (NASDAQ:TMC - Get Free Report) last posted its quarterly earnings results on Thursday, November 13th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.08). Research analysts anticipate that TMC the metals will post -0.22 EPS for the current fiscal year.

Insider Buying and Selling

In other TMC the metals news, insider Erika Ilves sold 1,591,485 shares of the company's stock in a transaction that occurred 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 sale, the insider owned 1,145,792 shares in the company, valued at approximately $6,611,219.84. This represents a 58.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Anthony O'sullivan sold 50,000 shares of TMC the metals stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $6.77, for a total transaction of $338,500.00. Following the transaction, the insider directly owned 2,025,667 shares of the company's stock, valued at approximately $13,713,765.59. This trade represents a 2.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,691,485 shares of company stock valued at $9,846,868 over the last three months. 27.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TMC. Sprott Inc. purchased a new stake in shares of TMC the metals during the 1st quarter worth about $26,000. NewEdge Advisors LLC acquired a new position in TMC the metals in the 2nd quarter worth about $28,000. Wolverine Asset Management LLC boosted its position in 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 purchasing an additional 4,365 shares in the last quarter. Sunbelt Securities Inc. purchased a new position in TMC the metals during the third quarter worth approximately $34,000. Finally, KBC Group NV acquired a new stake in TMC the metals in the second quarter valued at approximately $37,000. Hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.