TMC the metals (NASDAQ:TMC) Given Outperform Rating at Wedbush

Key Points

• Wedbush reiterated an Outperform rating on TMC the metals with an $8.00 price target, implying roughly a 50.4% upside from the stock's recent price.
• Analyst views are mixed: HC Wainwright raised its target to $11.75 and rates the stock "buy", Weiss Ratings maintains a "sell (d-)", and MarketBeat shows a consensus Hold with a $9.88 target.
• TMC shares opened at $5.32, trade well below their 52-week high of $11.35, have a market cap of $2.30 billion and only about 4.39% institutional ownership.

TMC the metals (NASDAQ:TMC - Get Free Report)'s stock had its "outperform" rating restated by research analysts at Wedbush in a note issued to investors on Monday,Benzinga reports. They currently have a $8.00 price target on the stock. Wedbush's target price would indicate a potential upside of 50.38% from the stock's current price.

A number of other equities research analysts have also recently issued reports on TMC. HC Wainwright upped their target price on shares of TMC the metals from $7.50 to $11.75 and gave the company a "buy" rating in a report on Friday, January 23rd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of TMC the metals in a report on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, TMC the metals currently has a consensus rating of "Hold" and a consensus target price of $9.88.

TMC the metals Stock Performance

Shares of TMC stock opened at $5.32 on Monday. The firm's 50-day moving average is $5.53 and its 200-day moving average is $6.55. The stock has a market cap of $2.30 billion, a price-to-earnings ratio of -6.65 and a beta of 2.00. TMC the metals has a 52-week low of $2.22 and a 52-week high of $11.35.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TMC. NewEdge Advisors LLC bought a new position in TMC the metals in the 2nd quarter valued at approximately $28,000. Osterweis Capital Management Inc. bought a new position in TMC the metals during the fourth quarter worth $29,000. Caitong International Asset Management Co. Ltd bought a new position in TMC the metals during the fourth quarter worth $29,000. Sunbelt Securities Inc. bought a new position in TMC the metals during the third quarter worth $34,000. Finally, Farther Finance Advisors LLC raised its stake in TMC the metals by 465.8% during the fourth quarter. Farther Finance Advisors LLC now owns 5,686 shares of the company's stock worth $35,000 after buying an additional 4,681 shares during the last quarter. 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. Its products are used in electric vehicles (EV), renewable energy storage markets, EV wiring, energy transmission, manganese alloy production required for steel production, and other applications.

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