TMC the metals FY2025 EPS Estimate Reduced by HC Wainwright

Key Points

• HC Wainwright has reduced the FY2025 EPS estimate for TMC the metals from ($0.26) to ($0.39), while maintaining a "Buy" rating and a target price of $7.25.
• Wedbush has upgraded TMC the metals from "neutral" to "outperform" with a price target increased from $6.00 to $11.00.
• Recent insider transactions include Director Brendan May selling 44,204 shares for approximately $326,225, reducing his ownership by 18.28%.

TMC the metals company Inc. (NASDAQ:TMC - Free Report) - HC Wainwright reduced their FY2025 EPS estimates for shares of TMC the metals in a note issued to investors on Monday, August 18th. HC Wainwright analyst H. Ihle now expects that the company will earn ($0.39) per share for the year, down from their prior estimate of ($0.26). HC Wainwright currently has a "Buy" rating and a $7.25 target price on the stock. The consensus estimate for TMC the metals' current full-year earnings is ($0.22) per share.

Separately, Wedbush upgraded shares of TMC the metals from a "neutral" rating to an "outperform" rating and upped their price target for the company from $6.00 to $11.00 in a research note on Wednesday, June 25th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, TMC the metals presently has an average rating of "Buy" and an average price target of $7.33.

TMC the metals Stock Performance

Shares of TMC opened at $4.72 on Wednesday. TMC the metals has a 52 week low of $0.72 and a 52 week high of $8.63. The firm has a market cap of $1.71 billion, a P/E ratio of -12.76 and a beta of 1.59. The firm's 50-day simple moving average is $6.33 and its 200 day simple moving average is $3.90.

TMC the metals (NASDAQ:TMC - Get Free Report) last issued its earnings results on Thursday, August 14th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.01).

Insider Buying and Selling

In other TMC the metals news, Director Brendan May sold 44,204 shares of the firm's stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $7.38, for a total value of $326,225.52. Following the completion of the sale, the director directly owned 197,586 shares in the company, valued at approximately $1,458,184.68. This trade represents a 18.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 27.60% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TMC. Raymond James Financial Inc. bought a new position in shares of TMC the metals during the fourth quarter valued at about $28,000. XTX Topco Ltd bought a new position in shares of TMC the metals during the fourth quarter valued at about $65,000. Jane Street Group LLC lifted its position in shares of TMC the metals by 7,330.9% during the fourth quarter. Jane Street Group LLC now owns 1,345,812 shares of the company's stock valued at $1,507,000 after purchasing an additional 1,364,424 shares in the last quarter. First Manhattan CO. LLC. lifted its position in shares of TMC the metals by 115.2% during the fourth quarter. First Manhattan CO. LLC. now owns 18,726,800 shares of the company's stock valued at $20,974,000 after purchasing an additional 10,025,000 shares in the last quarter. Finally, Shay Capital LLC lifted its position in shares of TMC the metals by 965.6% during the fourth quarter. Shay Capital LLC now owns 932,404 shares of the company's stock valued at $1,044,000 after purchasing an additional 844,904 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.