TMC the metals' (TMC) "Buy" Rating Reaffirmed 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 reaffirmed by equities research analysts at HC Wainwright in a report released on Monday,Benzinga reports. They currently have a $7.25 price target on the stock. HC Wainwright's price target points to a potential upside of 47.36% from the company's previous close.

Separately, Wedbush upgraded shares of TMC the metals from a "neutral" rating to an "outperform" rating and upped their price target for the company from $6.00 to $11.00 in a research note on Wednesday, June 25th.

TMC the metals Price Performance

TMC the metals stock opened at $4.92 on Monday. The firm has a market capitalization of $1.78 billion, a PE ratio of -13.30 and a beta of 1.59. The company's 50-day moving average is $6.31 and its 200-day moving average is $3.87. TMC the metals has a fifty-two week low of $0.72 and a fifty-two week high of $8.63.

TMC the metals (NASDAQ:TMC - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.01). As a group, analysts expect that TMC the metals will post -0.22 EPS for the current year.

Insider Transactions at TMC the metals

In other TMC the metals news, Director Brendan May sold 44,204 shares of the business's stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $7.38, for a total value of $326,225.52. Following the completion of the sale, the director owned 197,586 shares of the company's stock, valued at $1,458,184.68. The trade was a 18.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Anthony O'sullivan sold 164,317 shares of the business's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $4.49, for a total transaction of $737,783.33. Following the completion of the sale, the insider directly owned 1,125,667 shares of the company's stock, valued at $5,054,244.83. This represents a 12.74% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 233,521 shares of company stock worth $1,259,009. 27.60% of the stock is owned by company insiders.

Institutional Trading of TMC the metals

A number of institutional investors have recently bought and sold shares of TMC. First Manhattan CO. LLC. lifted its holdings in shares of TMC the metals by 115.2% during the 4th quarter. First Manhattan CO. LLC. now owns 18,726,800 shares of the company's stock worth $20,974,000 after acquiring an additional 10,025,000 shares during the period. Old West Investment Management LLC lifted its holdings in shares of TMC the metals by 100.0% during the 1st quarter. Old West Investment Management LLC now owns 4,270,076 shares of the company's stock worth $7,345,000 after acquiring an additional 2,135,038 shares during the period. Jane Street Group LLC lifted its holdings in shares of TMC the metals by 7,330.9% during the 4th quarter. Jane Street Group LLC now owns 1,345,812 shares of the company's stock worth $1,507,000 after acquiring an additional 1,364,424 shares during the period. Jump Financial LLC bought a new stake in shares of TMC the metals during the 2nd quarter worth approximately $6,216,000. Finally, Shay Capital LLC lifted its holdings in shares of TMC the metals by 965.6% during the 4th quarter. Shay Capital LLC now owns 932,404 shares of the company's stock worth $1,044,000 after acquiring an additional 844,904 shares during the period. 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.

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