Wedbush Upgrades TMC the metals (NASDAQ:TMC) to Outperform

TMC the metals (NASDAQ:TMC - Get Free Report) was upgraded by equities researchers at Wedbush from a "neutral" rating to an "outperform" rating in a report issued on Wednesday, Marketbeat reports. The brokerage presently has a $11.00 price target on the stock, up from their prior price target of $6.00. Wedbush's target price would indicate a potential upside of 61.53% from the company's previous close. Wedbush also issued estimates for TMC the metals' Q2 2025 earnings at ($0.06) EPS, Q3 2025 earnings at ($0.07) EPS, Q4 2025 earnings at ($0.07) EPS, FY2025 earnings at ($0.26) EPS, Q1 2026 earnings at ($0.07) EPS, Q2 2026 earnings at ($0.07) EPS, Q3 2026 earnings at ($0.07) EPS, Q4 2026 earnings at ($0.08) EPS, FY2026 earnings at ($0.29) EPS, FY2027 earnings at ($0.05) EPS and FY2028 earnings at $0.37 EPS.

Separately, HC Wainwright started coverage on shares of TMC the metals in a research note on Tuesday, May 20th. They issued a "buy" rating and a $5.50 price objective for the company.

TMC the metals Stock Performance

NASDAQ TMC traded down $0.37 during trading on Wednesday, hitting $6.81. The stock had a trading volume of 9,395,431 shares, compared to its average volume of 4,203,760. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of -29.61 and a beta of 1.46. TMC the metals has a one year low of $0.72 and a one year high of $8.12. The stock has a 50 day simple moving average of $4.29 and a 200 day simple moving average of $2.54.

TMC the metals (NASDAQ:TMC - Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.03). On average, sell-side analysts predict that TMC the metals will post -0.22 EPS for the current year.

Insider Activity

In other news, Director Brendan May sold 25,000 shares of TMC the metals stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $7.80, for a total transaction of $195,000.00. Following the completion of the sale, the director now owns 241,790 shares of the company's stock, valued at approximately $1,885,962. The trade was a 9.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Craig Shesky sold 353,702 shares of TMC the metals stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $1.66, for a total transaction of $587,145.32. Following the sale, the chief financial officer now directly owns 1,145,717 shares of the company's stock, valued at $1,901,890.22. This represents a 23.59% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 587,223 shares of company stock valued at $1,846,154. Corporate insiders own 28.50% of the company's stock.

Hedge Funds Weigh In On TMC the metals

Several institutional investors and hedge funds have recently bought and sold shares of TMC. Allworth Financial LP increased its position in shares of TMC the metals by 48.0% in the 1st quarter. Allworth Financial LP now owns 14,796 shares of the company's stock valued at $25,000 after acquiring an additional 4,796 shares during the period. Sprott Inc. acquired a new position in shares of TMC the metals in the 1st quarter valued at $26,000. Gray Wealth Management Inc. increased its position in shares of TMC the metals by 59.7% in the 4th quarter. Gray Wealth Management Inc. now owns 23,700 shares of the company's stock valued at $27,000 after acquiring an additional 8,863 shares during the period. Oppenheimer & Co. Inc. acquired a new position in shares of TMC the metals in the 4th quarter valued at $28,000. Finally, Raymond James Financial Inc. acquired a new position in shares of TMC the metals in the 4th quarter valued at $28,000. 4.39% of the stock is owned by hedge funds and other institutional investors.

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.