TMC the metals (NASDAQ:TMC) Now Covered by HC Wainwright

Investment analysts at HC Wainwright started coverage on shares of TMC the metals (NASDAQ:TMC - Get Free Report) in a research report issued on Tuesday, MarketBeat Ratings reports. The brokerage set a "buy" rating and a $5.50 price target on the stock. HC Wainwright's price target indicates a potential upside of 19.05% from the stock's current price. HC Wainwright also issued estimates for TMC the metals' FY2025 earnings at ($0.28) EPS and FY2026 earnings at ($0.27) EPS.

Separately, Wedbush restated a "neutral" rating and issued a $6.00 target price on shares of TMC the metals in a research note on Friday, May 16th.

TMC the metals Stock Up 7.4%

TMC stock traded up $0.32 during midday trading on Tuesday, hitting $4.62. The company's stock had a trading volume of 11,323,565 shares, compared to its average volume of 3,144,152. The stock's 50-day moving average price is $2.67 and its 200 day moving average price is $1.80. TMC the metals has a 1 year low of $0.72 and a 1 year high of $4.84. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of -14.90 and a beta of 1.33.

TMC the metals (NASDAQ:TMC - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The company reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.03). As a group, equities analysts forecast that TMC the metals will post -0.22 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Craig Shesky sold 353,702 shares of TMC the metals stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $1.66, for a total value of $587,145.32. Following the completion of the sale, the chief financial officer now owns 1,145,717 shares of the company's stock, valued at $1,901,890.22. The trade was a 23.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Anthony O'sullivan sold 164,317 shares of TMC the metals stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $4.49, for a total value of $737,783.33. Following the completion of the sale, the insider now directly owns 1,125,667 shares of the company's stock, valued at $5,054,244.83. The trade was a 12.74% decrease in their position. The disclosure for this sale can be found here. 30.00% of the stock is currently owned by company insiders.

Institutional Trading of TMC the metals

Hedge funds have recently bought and sold shares of the stock. 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. Sprott Inc. purchased a new position in shares of TMC the metals in the first quarter valued at about $26,000. Gray Wealth Management Inc. lifted its position in shares of TMC the metals by 59.7% in the fourth quarter. Gray Wealth Management Inc. now owns 23,700 shares of the company's stock worth $27,000 after buying an additional 8,863 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new stake in shares of TMC the metals in the fourth quarter worth about $28,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of TMC the metals in the fourth quarter worth about $28,000. 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.