TMC the metals (NASDAQ:TMC) Sets New 12-Month High - Time to Buy?

TMC the metals company Inc. (NASDAQ:TMC - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $2.87 and last traded at $2.83, with a volume of 28209443 shares changing hands. The stock had previously closed at $1.95.

Analyst Ratings Changes

A number of equities analysts recently commented on TMC shares. Alliance Global Partners assumed coverage on TMC the metals in a report on Wednesday, January 15th. They set a "buy" rating and a $3.75 target price for the company. Wedbush restated a "neutral" rating and issued a $4.00 price target on shares of TMC the metals in a research note on Friday, March 28th.

TMC the metals Stock Performance

The firm has a market cap of $1.03 billion, a P/E ratio of -9.55 and a beta of 1.46. The stock has a fifty day simple moving average of $1.93 and a 200 day simple moving average of $1.40.

TMC the metals (NASDAQ:TMC - Get Free Report) last issued its quarterly earnings data on Thursday, March 27th. The company reported ($0.05) earnings per share for the quarter, beating analysts' consensus estimates of ($0.06) by $0.01. The company had revenue of ($20.18) million for the quarter. Research analysts predict that TMC the metals company Inc. will post -0.22 earnings per share for the current year.

Insider Activity

In other TMC the metals news, CFO Craig Shesky sold 353,702 shares of the company's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $1.66, for a total value of $587,145.32. Following the completion of the sale, the chief financial officer now owns 1,145,717 shares in the company, valued at $1,901,890.22. This represents a 23.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 30.00% of the company's stock.

Hedge Funds Weigh In On TMC the metals

Several large investors have recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new stake in TMC the metals during the third quarter valued at about $44,000. Tidal Investments LLC grew its stake in shares of TMC the metals by 32.6% in the 3rd quarter. Tidal Investments LLC now owns 485,332 shares of the company's stock worth $514,000 after buying an additional 119,335 shares in the last quarter. Oppenheimer & Co. Inc. bought a new stake in shares of TMC the metals in the 4th quarter worth about $28,000. SBI Securities Co. Ltd. purchased a new stake in shares of TMC the metals during the 4th quarter valued at about $94,000. Finally, Raymond James Financial Inc. bought a new position in shares of TMC the metals in the 4th quarter valued at about $28,000. Hedge funds and other institutional investors own 4.39% of the company's stock.

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.