TMC the metals (NASDAQ:TMC) Stock Price Expected to Rise, HC Wainwright Analyst Says

Key Points

• HC Wainwright has raised the price target for TMC the Metals from $5.50 to $7.25, projecting a potential upside of 39.96% from the stock's previous close.
• Wedbush upgraded TMC the Metals from a "neutral" to an "outperform" rating, increasing their price objective from $6.00 to $11.00.
• TMC the Metals experienced an 8.2% decline in stock price, trading at $5.18, following the latest quarterly earnings report that showed a loss of $0.06 EPS, missing estimates.

TMC the metals (NASDAQ:TMC - Free Report) had its target price increased by HC Wainwright from $5.50 to $7.25 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock. HC Wainwright also issued estimates for TMC the metals' FY2025 earnings at ($0.26) EPS and FY2026 earnings at ($0.25) EPS.

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

TMC the metals Stock Up 1.8%

Shares of TMC traded up $0.10 during trading hours on Wednesday, reaching $5.62. 5,615,872 shares of the company traded hands, compared to its average volume of 12,739,416. The company's fifty day moving average price is $6.19 and its two-hundred day moving average price is $3.71. The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of -24.43 and a beta of 1.59. TMC the metals has a 12 month low of $0.72 and a 12 month high of $8.63.

TMC the metals (NASDAQ:TMC - Get Free Report) last announced its earnings results on Wednesday, May 14th. The company reported ($0.06) earnings per share for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.03). On average, analysts expect that TMC the metals will post -0.22 EPS for the current year.

Insider Transactions at TMC the metals

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Tidal Investments LLC raised its holdings in TMC the metals by 11.9% in the fourth quarter. Tidal Investments LLC now owns 542,938 shares of the company's stock worth $608,000 after buying an additional 57,606 shares during the last quarter. Parallel Advisors LLC purchased a new position in shares of TMC the metals during the first quarter valued at approximately $61,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of TMC the metals during the first quarter valued at approximately $73,000. First Manhattan CO. LLC. raised its holdings 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 during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of TMC the metals during the fourth quarter valued at approximately $28,000. 4.39% of the stock is owned by hedge funds and other institutional investors.

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.