Wedbush Has Lowered Expectations for TMC the metals (NASDAQ:TMC) Stock Price

Key Points

• Wedbush cut its price target on TMC the metals from $11.00 to $8.00 while maintaining an "outperform" rating, a target the firm says implies roughly a 93% upside from the current share price.
• Analyst sentiment is mixed—two Buys, one Hold and one Sell—resulting in a consensus rating of Hold and a consensus price target of $9.88.
• TMC shares recently traded at about $4.15 with a $1.71 billion market cap, negative PE, 50‑ and 200‑day moving averages near $6.29 and $6.68, and the company focuses on deep‑sea polymetallic nodule mining for EV and renewable energy metals.

TMC the metals (NASDAQ:TMC - Get Free Report) had its price objective dropped by equities researchers at Wedbush from $11.00 to $8.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Wedbush's price objective suggests a potential upside of 93.00% from the company's current price.

TMC has been the topic of a number of other reports. HC Wainwright upped their price objective 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. Weiss Ratings reaffirmed 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 issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $9.88.

TMC the metals Trading Up 1.1%

TMC stock traded up $0.05 during trading on Tuesday, hitting $4.15. The company had a trading volume of 1,301,178 shares, compared to its average volume of 7,954,774. The stock has a market cap of $1.71 billion, a PE ratio of -5.21 and a beta of 1.87. The business has a 50-day moving average of $6.29 and a 200-day moving average of $6.68. TMC the metals has a one year low of $1.57 and a one year high of $11.35.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of TMC. Geode Capital Management LLC grew its holdings in TMC the metals by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 371,142 shares of the company's stock worth $2,288,000 after purchasing an additional 1,566 shares during the period. Howe & Rusling Inc. increased its stake in TMC the metals by 31.2% in the third quarter. Howe & Rusling Inc. now owns 14,855 shares of the company's stock valued at $95,000 after purchasing an additional 3,530 shares in the last quarter. Thomas J. Herzfeld Advisors Inc. raised its holdings in shares of TMC the metals by 44.1% during the second quarter. Thomas J. Herzfeld Advisors Inc. now owns 12,911 shares of the company's stock valued at $85,000 after purchasing an additional 3,952 shares during the period. NewEdge Advisors LLC acquired a new position in shares of TMC the metals during the second quarter valued at about $28,000. Finally, Osterweis Capital Management Inc. bought a new position in shares of TMC the metals during the 4th quarter worth about $29,000. Institutional investors and hedge funds 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. 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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