TMC the metals company Inc. (NASDAQ:TMC - Get Free Report)'s share price shot up 7.9% during mid-day trading on Wednesday . The company traded as high as $5.13 and last traded at $5.0950. 1,638,628 shares traded hands during trading, a decline of 78% from the average session volume of 7,511,675 shares. The stock had previously closed at $4.72.
Analysts Set New Price Targets
Several research firms recently issued reports on TMC. Wedbush decreased their price objective on shares of TMC the metals from $11.00 to $8.00 and set an "outperform" rating for the company in a report on Tuesday, March 31st. HC Wainwright upped their target price on shares of TMC the metals from $7.50 to $11.75 and gave the company a "buy" rating in a research note on Friday, January 23rd. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of TMC the metals in a research report on Wednesday, January 21st. Two equities research 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. Based on data from MarketBeat, TMC the metals currently has an average rating of "Hold" and an average target price of $9.88.
Check Out Our Latest Stock Analysis on TMC
TMC the metals Trading Up 7.1%
The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of -6.34 and a beta of 2.00. The stock has a fifty day moving average price of $5.59 and a 200-day moving average price of $6.58.
Institutional Investors Weigh In On TMC the metals
Hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new position in TMC the metals in the fourth quarter valued at about $1,460,000. Mirador Capital Partners LP increased its holdings in shares of TMC the metals by 306.1% during the third quarter. Mirador Capital Partners LP now owns 449,990 shares of the company's stock worth $2,866,000 after buying an additional 339,174 shares in the last quarter. Quantbot Technologies LP raised its stake in shares of TMC the metals by 2,615.8% in the third quarter. Quantbot Technologies LP now owns 195,971 shares of the company's stock valued at $1,248,000 after acquiring an additional 188,755 shares during the last quarter. Mutual Advisors LLC bought a new position in shares of TMC the metals in the third quarter valued at approximately $1,390,000. Finally, Old West Investment Management LLC boosted its holdings in shares of TMC the metals by 49.6% in the 3rd quarter. Old West Investment Management LLC now owns 1,997,238 shares of the company's stock worth $12,722,000 after acquiring an additional 662,200 shares in the last quarter. Institutional investors and hedge funds own 4.39% of the company's stock.
TMC the metals Company Profile
(
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. 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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