HC Wainwright Boosts Earnings Estimates for TMC the metals

Key Points

• HC Wainwright raised TMC the metals' FY2025 earnings per share estimate from ($0.28) to ($0.26), maintaining a "Buy" rating with a price target of $7.25.
• Wedbush upgraded TMC the metals from "neutral" to "outperform" with a new price target of $11.00, reflecting increased confidence in the stock's performance.
• Insider selling activity included 164,317 shares sold by Anthony O'sullivan, which amounted to a 12.74% decrease in his holdings, showcasing a significant shift in insider sentiment.

TMC the metals company Inc. (NASDAQ:TMC - Free Report) - Research analysts at HC Wainwright raised their FY2025 earnings per share (EPS) estimates for shares of TMC the metals in a note issued to investors on Wednesday, August 6th. HC Wainwright analyst H. Ihle now anticipates that the company will earn ($0.26) per share for the year, up from their previous forecast of ($0.28). HC Wainwright has a "Buy" rating and a $7.25 price objective on the stock. The consensus estimate for TMC the metals' current full-year earnings is ($0.22) per share. HC Wainwright also issued estimates for TMC the metals' FY2026 earnings at ($0.25) EPS.

Separately, Wedbush raised TMC the metals from a "neutral" rating to an "outperform" rating and lifted their price target for the stock from $6.00 to $11.00 in a research report on Wednesday, June 25th.

TMC the metals Price Performance

Shares of NASDAQ TMC traded up $0.10 during midday trading on Friday, hitting $5.62. 5,615,872 shares of the company's stock were exchanged, compared to its average volume of 12,739,416. TMC the metals has a twelve month low of $0.72 and a twelve month high of $8.63. The company has a market cap of $2.04 billion, a PE ratio of -24.43 and a beta of 1.59. The firm's fifty day simple moving average is $6.19 and its 200-day simple moving average is $3.72.

TMC the metals (NASDAQ:TMC - Get Free Report) last posted its earnings results on Wednesday, May 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.03).

Insiders Place Their Bets

In other news, Director Brendan May sold 44,204 shares of the company's stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $7.38, for a total value of $326,225.52. Following the sale, the director directly owned 197,586 shares in the company, valued at $1,458,184.68. This represents a 18.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Anthony O'sullivan sold 164,317 shares of the company's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $4.49, for a total value of $737,783.33. Following the completion of the sale, the insider owned 1,125,667 shares in the company, valued at $5,054,244.83. This represents a 12.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 233,521 shares of company stock worth $1,259,009. 27.60% of the stock is owned by company insiders.

Institutional Trading of TMC the metals

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Concurrent Investment Advisors LLC lifted its position in shares of TMC the metals by 11.9% in the second quarter. Concurrent Investment Advisors LLC now owns 37,868 shares of the company's stock valued at $250,000 after acquiring an additional 4,023 shares in the last quarter. Wolverine Asset Management LLC lifted its position in shares of TMC the metals by 752.6% in the second quarter. Wolverine Asset Management LLC now owns 4,945 shares of the company's stock valued at $33,000 after acquiring an additional 4,365 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of TMC the metals by 10.5% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 47,163 shares of the company's stock valued at $335,000 after acquiring an additional 4,482 shares in the last quarter. Sowell Financial Services LLC lifted its position in shares of TMC the metals by 37.4% in the second quarter. Sowell Financial Services LLC now owns 16,604 shares of the company's stock valued at $110,000 after acquiring an additional 4,517 shares in the last quarter. Finally, Allworth Financial LP lifted its position in shares of TMC the metals by 48.0% in the first quarter. Allworth Financial LP now owns 14,796 shares of the company's stock valued at $25,000 after acquiring an additional 4,796 shares in the last quarter. 4.39% of the stock is currently owned by hedge funds and other institutional investors.

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.