TMC the metals (NASDAQ:TMC) Given "Buy" Rating at HC Wainwright

Key Points

• HC Wainwright has reaffirmed a "buy" rating for TMC the metals, setting a price target of $7.25, indicating a potential upside of 47.36% from its previous close.
• Wedbush has upgraded TMC the metals from a "neutral" to an "outperform" rating, increasing their price target from $6.00 to $11.00.
• TMC the metals reported a quarterly earnings miss with an EPS of ($0.07), falling short of expectations by ($0.01), while analysts forecast a yearly EPS of ($0.22).

TMC the metals (NASDAQ:TMC - Get Free Report)'s stock had its "buy" rating restated by research analysts at HC Wainwright in a report released on Monday,Benzinga reports. They currently have a $7.25 price objective on the stock. HC Wainwright's price objective points to a potential upside of 49.18% from the company's previous close. HC Wainwright also issued estimates for TMC the metals' FY2025 earnings at ($0.39) EPS.

Separately, Wedbush raised TMC the metals from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $6.00 to $11.00 in a research report on Wednesday, June 25th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, TMC the metals currently has a consensus rating of "Moderate Buy" and a consensus price target of $7.33.

TMC the metals Price Performance

TMC traded down $0.09 during trading hours on Monday, reaching $4.86. The company's stock had a trading volume of 8,039,169 shares, compared to its average volume of 10,916,327. TMC the metals has a fifty-two week low of $0.72 and a fifty-two week high of $8.63. The stock has a market cap of $1.76 billion, a PE ratio of -13.13 and a beta of 1.59. The business's 50-day moving average is $6.35 and its 200-day moving average is $3.95.

TMC the metals (NASDAQ:TMC - Get Free Report) last announced its earnings results on Thursday, August 14th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.01). Analysts expect that TMC the metals will post -0.22 EPS for the current year.

Insider Buying and Selling at TMC the metals

In other news, Director Brendan May sold 44,204 shares of the company's stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $7.38, for a total transaction of $326,225.52. Following the sale, the director owned 197,586 shares of the company's stock, valued at approximately $1,458,184.68. This represents a 18.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 27.60% of the company's stock.

Institutional Trading of TMC the metals

Large investors have recently modified their holdings of the stock. NewEdge Advisors LLC purchased a new stake in shares of TMC the metals during the second quarter worth $28,000. Wolverine Asset Management LLC increased its position in shares of TMC the metals by 752.6% during the second quarter. Wolverine Asset Management LLC now owns 4,945 shares of the company's stock worth $33,000 after acquiring an additional 4,365 shares during the period. KBC Group NV purchased a new stake in shares of TMC the metals during the second quarter worth $37,000. Quantbot Technologies LP purchased a new stake in shares of TMC the metals during the second quarter worth $48,000. Finally, Marex Group plc acquired a new position in shares of TMC the metals during the second quarter worth $66,000. 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.