TMC the metals (NASDAQ:TMC - Get Free Report) issued its quarterly earnings results on Thursday. The company reported ($0.14) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.08), FiscalAI reports.
TMC the metals Stock Performance
Shares of NASDAQ:TMC traded down $0.06 during trading on Thursday, reaching $4.41. 4,183,570 shares of the stock were exchanged, compared to its average volume of 6,346,484. TMC the metals has a 12-month low of $3.40 and a 12-month high of $11.35. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of -5.58 and a beta of 2.06. The firm's 50-day moving average price is $4.37 and its 200 day moving average price is $5.26.
Analyst Ratings Changes
A number of analysts have issued reports on the company. Weiss Ratings reissued a "sell (d-)" rating on shares of TMC the metals in a research note on Friday, July 17th. Wall Street Zen raised shares of TMC the metals from a "strong sell" rating to a "sell" rating in a research report on Saturday, May 16th. Maxim Group began coverage on shares of TMC the metals in a report on Thursday, June 4th. They issued a "buy" rating and a $10.00 price target on the stock. Wedbush boosted their price objective on shares of TMC the metals from $8.00 to $10.00 and gave the company an "outperform" rating in a research note on Monday, May 4th. Finally, HC Wainwright restated a "buy" rating and set a $11.75 price objective on shares of TMC the metals in a report on Tuesday, June 2nd. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $10.58.
Check Out Our Latest Research Report on TMC
Insider Buying and Selling
In other TMC the metals news, Director Brendan May sold 20,768 shares of TMC the metals stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $6.42, for a total transaction of $133,330.56. Following the transaction, the director directly owned 193,346 shares of the company's stock, valued at $1,241,281.32. The trade was a 9.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 28.50% of the company's stock.
Hedge Funds Weigh In On TMC the metals
A number of hedge funds have recently made changes to their positions in the business. EP Wealth Advisors LLC acquired a new position in shares of TMC the metals during the 4th quarter valued at $69,000. XTX Topco Ltd purchased a new stake in TMC the metals during the 4th quarter worth $612,000. Tudor Investment Corp ET AL increased its holdings in TMC the metals by 57.8% in the 4th quarter. Tudor Investment Corp ET AL now owns 698,185 shares of the company's stock valued at $4,308,000 after purchasing an additional 255,766 shares in the last quarter. Osterweis Capital Management Inc. acquired a new stake in TMC the metals in the 4th quarter valued at $29,000. Finally, Guggenheim Capital LLC purchased a new position in TMC the metals in the fourth quarter valued at about $276,000. Hedge funds and other institutional investors own 4.39% of the company's stock.
About TMC the metals
(
Get Free Report)
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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