TMC the metals (NASDAQ:TMC) Stock Price Up 14.2% - Time to Buy?

Key Points

• TMC shares jumped 14.2% to $4.705 on heavy trading volume, with 8.66 million shares changing hands—36% above the average session volume.
• Analyst sentiment remains mixed: three analysts rate the stock Buy, one Hold, and one Sell, producing a consensus Hold rating and an average price target of $10.58.
• TMC remains a speculative, pre-revenue deep-sea minerals company with a negative P/E ratio and projected full-year loss of $0.31 per share; institutional ownership is limited at 4.39%, while insiders own 28.5%.

TMC the metals company Inc. (NASDAQ:TMC - Get Free Report) shares traded up 14.2% on Friday . The stock traded as high as $4.69 and last traded at $4.7050. 8,655,483 shares traded hands during trading, an increase of 36% from the average session volume of 6,384,974 shares. The stock had previously closed at $4.12.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Maxim Group initiated coverage on shares of TMC the metals in a research report on Thursday, June 4th. They issued a "buy" rating and a $10.00 price objective on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of TMC the metals in a research note on Friday, July 17th. HC Wainwright reissued a "buy" rating and set a $11.75 price target on shares of TMC the metals in a research report on Tuesday, June 2nd. Wall Street Zen upgraded TMC the metals from a "strong sell" rating to a "sell" rating in a report on Saturday, May 16th. Finally, Wedbush upped their target price on TMC the metals from $8.00 to $10.00 and gave the stock an "outperform" rating in a report on Monday, May 4th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $10.58.

TMC the metals Price Performance

The firm has a market capitalization of $1.98 billion, a P/E ratio of -5.82 and a beta of 2.06. The firm's 50 day moving average is $4.51 and its two-hundred day moving average is $5.35.

TMC the metals (NASDAQ:TMC - Get Free Report) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.01. Analysts anticipate that TMC the metals company Inc. will post -0.31 EPS for the current fiscal year.

Insider Transactions at TMC the metals

In related news, Director Brendan May sold 20,768 shares of the firm's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $6.42, for a total value of $133,330.56. Following the completion of the sale, the director directly owned 193,346 shares in the company, valued at approximately $1,241,281.32. This trade represents a 9.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 28.50% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TMC. BlackRock Inc. bought a new stake in TMC the metals in the 2nd quarter valued at $6,556,000. Deutsche Bank AG acquired a new stake in shares of TMC the metals during the 2nd quarter worth about $74,000. Old West Investment Management LLC bought a new stake in shares of TMC the metals during the 2nd quarter worth about $5,334,000. Bank of New York Mellon Corp bought a new stake in shares of TMC the metals during the 2nd quarter worth about $45,000. Finally, Handelsbanken Fonder AB acquired a new position in TMC the metals in the 2nd quarter valued at about $350,000. 4.39% of the stock is owned by institutional investors and hedge funds.

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. 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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