TMC the metals (NASDAQ:TMC) Shares Gap Up - Time to Buy?

Key Points

• TMC shares gapped up pre-market, opening at $5.42 after a $5.12 close; the stock last traded around $5.1460 with volume of 858,558 shares.
• Analyst sentiment is mixed: two Buys, one Hold and one Sell give an average rating of "Hold" and an average price target of $9.88, with recent targets ranging from $8 (Wedbush cut) to $11.75 (HC Wainwright raise).
• Business and key metrics: the company explores deep‑sea polymetallic nodules for battery metals (nickel, cobalt, copper, manganese) used in EVs and renewables; market cap ~$2.3B, negative PE (-6.67), 50/200‑day moving averages $5.56/$6.57, beta 2.00, and ~4.39% institutional ownership.

TMC the metals company Inc. (NASDAQ:TMC - Get Free Report) shares gapped up before the market opened on Thursday . The stock had previously closed at $5.12, but opened at $5.42. TMC the metals shares last traded at $5.1460, with a volume of 858,558 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Wedbush decreased their price objective on TMC the metals from $11.00 to $8.00 and set an "outperform" rating for the company in a report on Tuesday, March 31st. Weiss Ratings reiterated a "sell (d-)" rating on shares of TMC the metals in a report on Wednesday, January 21st. Finally, HC Wainwright increased their price objective on TMC the metals from $7.50 to $11.75 and gave the company a "buy" rating in a report on Friday, January 23rd. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, TMC the metals presently has an average rating of "Hold" and an average price target of $9.88.

TMC the metals Stock Performance

The firm has a fifty day moving average price of $5.56 and a 200 day moving average price of $6.57. The stock has a market cap of $2.30 billion, a PE ratio of -6.67 and a beta of 2.00.

Hedge Funds Weigh In On TMC the metals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. raised its stake in TMC the metals by 12.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 198,812 shares of the company's stock worth $1,227,000 after acquiring an additional 21,775 shares during the last quarter. Lane Brothers & Co. Inc. purchased a new position in TMC the metals in the 4th quarter worth $62,000. Mozayyx Management LLC purchased a new position in TMC the metals in the 4th quarter worth $463,000. Caitong International Asset Management Co. Ltd purchased a new position in TMC the metals in the 4th quarter worth $33,000. Finally, EP Wealth Advisors LLC purchased a new position in TMC the metals in the 4th quarter worth $69,000. Hedge funds and other institutional investors 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. 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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