TMC the metals company Inc. (NASDAQ:TMC - Get Free Report) saw an uptick in trading volume on Monday . 11,244,922 shares changed hands during mid-day trading, an increase of 30% from the previous session's volume of 8,618,763 shares.The stock last traded at $10.43 and had previously closed at $8.89.
Analyst Ratings Changes
A number of research firms have recently weighed in on TMC. HC Wainwright reiterated a "buy" rating and issued a $7.25 price objective on shares of TMC the metals in a research note on Monday, August 18th. Wedbush upgraded shares of TMC the metals from a "neutral" rating to an "outperform" rating and increased their price objective for the stock from $6.00 to $11.00 in a research note on Wednesday, June 25th. Weiss Ratings reiterated a "sell (d-)" rating on shares of TMC the metals in a research note on Wednesday, October 8th. Finally, Zacks Research upgraded shares of TMC the metals from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 19th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $7.33.
Read Our Latest Stock Report on TMC
TMC the metals Stock Up 16.9%
The company's 50-day moving average price is $5.90 and its 200-day moving average price is $5.04. The firm has a market cap of $4.22 billion, a price-to-earnings ratio of -28.34 and a beta of 1.70.
TMC the metals (NASDAQ:TMC - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.01). Analysts predict that TMC the metals company Inc. will post -0.22 earnings per share for the current fiscal year.
Insider Transactions at TMC the metals
In other TMC the metals news, insider Anthony O'sullivan sold 250,000 shares of TMC the metals stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $5.25, for a total transaction of $1,312,500.00. Following the completion of the sale, the insider directly owned 1,125,667 shares in the company, valued at $5,909,751.75. This trade represents a 18.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Erika Ilves sold 1,591,485 shares of TMC the metals stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $5.77, for a total transaction of $9,182,868.45. Following the completion of the transaction, the insider owned 1,145,792 shares of the company's stock, valued at $6,611,219.84. This trade represents a 58.14% decrease in their position. The disclosure for this sale can be found here. 27.60% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in TMC. Old West Investment Management LLC boosted its holdings in shares of TMC the metals by 100.0% in the 1st quarter. Old West Investment Management LLC now owns 4,270,076 shares of the company's stock valued at $7,345,000 after buying an additional 2,135,038 shares in the last quarter. Baird Financial Group Inc. boosted its holdings in shares of TMC the metals by 35.1% in the 1st quarter. Baird Financial Group Inc. now owns 2,946,027 shares of the company's stock valued at $5,067,000 after buying an additional 766,167 shares in the last quarter. Jump Financial LLC purchased a new stake in TMC the metals in the 2nd quarter valued at $6,216,000. BNP Paribas Financial Markets purchased a new stake in TMC the metals in the 2nd quarter valued at $3,133,000. Finally, Mirador Capital Partners LP raised its position in TMC the metals by 306.1% in the 3rd quarter. Mirador Capital Partners LP now owns 449,990 shares of the company's stock valued at $2,866,000 after purchasing an additional 339,174 shares during the last quarter. Institutional investors and hedge funds 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.
Further Reading
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