HC Wainwright Increases TMC the metals (NASDAQ:TMC) Price Target to $7.25

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 price objective hoisted by HC Wainwright from $5.50 to $7.25 in a research report report published 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 upgraded TMC the metals from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $6.00 to $11.00 in a research note on Wednesday, June 25th.

TMC the metals Price Performance

TMC the metals stock traded up $0.10 during mid-day trading on Wednesday, reaching $5.62. The company had a trading volume of 5,615,872 shares, compared to its average volume of 12,739,416. The company has a market capitalization of $2.04 billion, a P/E ratio of -24.43 and a beta of 1.59. The stock's 50-day simple moving average is $6.19 and its 200-day simple moving average is $3.72. TMC the metals has a 1 year low of $0.72 and a 1 year high of $8.63.

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

Insider Activity

In other news, 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 value of $737,783.33. Following the completion of the transaction, the insider directly owned 1,125,667 shares of the company's stock, valued at approximately $5,054,244.83. The trade was a 12.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 sale, the director owned 197,586 shares in the company, valued at approximately $1,458,184.68. This represents a 18.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 233,521 shares of company stock valued at $1,259,009 in the last three months. Insiders own 27.60% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Tidal Investments LLC boosted its holdings in shares of TMC the metals by 11.9% in the 4th quarter. Tidal Investments LLC now owns 542,938 shares of the company's stock worth $608,000 after acquiring an additional 57,606 shares in the last quarter. Parallel Advisors LLC acquired a new stake in shares of TMC the metals in the first quarter valued at $61,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of TMC the metals in the first quarter valued at about $73,000. First Manhattan CO. LLC. lifted its position in TMC the metals by 115.2% during the 4th quarter. First Manhattan CO. LLC. now owns 18,726,800 shares of the company's stock worth $20,974,000 after buying an additional 10,025,000 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in TMC the metals during the 4th quarter worth about $28,000. 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.