Brokerages Set TMC the metals company Inc. (NASDAQ:TMC) Price Target at $10.44

Shares of TMC the metals company Inc. (NASDAQ:TMC) have earned an average rating of “Moderate Buy” from the six analysts that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $10.4375.

TMC has been the topic of a number of recent analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $11.75 price target on shares of TMC the metals in a research note on Tuesday, June 2nd. Maxim Group started coverage on TMC the metals in a research note on Thursday, June 4th. They issued a “buy” rating and a $10.00 price objective on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of TMC the metals in a report on Friday, July 17th. Finally, Stifel Nicolaus started coverage on shares of TMC the metals in a research note on Friday, August 28th. They set a “buy” rating and a $10.00 price objective for the company.

Institutional Trading of TMC the metals

Several large investors have recently bought and sold shares of TMC. Caitong International Asset Management Co. Ltd acquired a new position in TMC the metals in the 4th quarter worth $33,000. Coastal Bridge Advisors LLC purchased a new position in TMC the metals in the second quarter valued at about $44,000. Northwestern Mutual Wealth Management Co. purchased a new position in TMC the metals in the second quarter valued at about $44,000. Vise Technologies Inc. acquired a new stake in TMC the metals during the 2nd quarter valued at approximately $45,000. Finally, Bank of New York Mellon Corp purchased a new stake in TMC the metals during the 2nd quarter worth approximately $45,000. Institutional investors and hedge funds own 4.39% of the company’s stock.

TMC the metals Trading Up 1.1%

NASDAQ:TMC opened at $3.78 on Friday. The firm has a 50-day moving average price of $4.13 and a two-hundred day moving average price of $4.82. The company has a market capitalization of $1.67 billion, a P/E ratio of -5.18 and a beta of 2.10. TMC the metals has a twelve month low of $3.40 and a twelve month high of $11.35.

TMC the metals (NASDAQ:TMC) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.08). On average, equities research analysts predict that TMC the metals will post -0.33 earnings per share for the current year.

TMC the metals Company Profile

The Metals Company (NASDAQ: TMC) is a deep-sea minerals exploration and development company focused on the potential recovery of polymetallic nodules from the ocean floor. These potato-sized nodules contain nickel, copper, cobalt and manganese, metals used in batteries, electric vehicles, renewable energy infrastructure and other industrial applications.

The company’s primary exploration interests are in the Clarion-Clipperton Zone, an area of the Pacific Ocean between Mexico and Hawaii.