Edison Inv. Res Weighs in on TMC the metals company Inc.’s FY2024 Earnings (NASDAQ:TMC)

TMC the metals company Inc. (NASDAQ:TMC) – Equities research analysts at Edison Inv. Res boosted their FY2024 earnings per share (EPS) estimates for TMC the metals in a report released on Wednesday, April 3rd. Edison Inv. Res analyst D. Larkam now expects that the company will post earnings per share of ($0.16) for the year, up from their previous forecast of ($0.17). The consensus estimate for TMC the metals’ current full-year earnings is ($0.20) per share. Edison Inv. Res also issued estimates for TMC the metals’ FY2025 earnings at ($0.12) EPS and FY2026 earnings at ($0.09) EPS.

TMC the metals Trading Up 1.8 %

TMC the metals stock opened at $1.71 on Monday. The company has a market cap of $544.21 million, a PE ratio of -8.55 and a beta of 1.82. TMC the metals has a 1 year low of $0.65 and a 1 year high of $3.20. The company’s 50-day moving average is $1.45 and its two-hundred day moving average is $1.23.

Hedge Funds Weigh In On TMC the metals

Several institutional investors and hedge funds have recently made changes to their positions in TMC. Advisor Group Holdings Inc. grew its position in shares of TMC the metals by 393.1% in the 1st quarter. Advisor Group Holdings Inc. now owns 24,040 shares of the company’s stock valued at $62,000 after purchasing an additional 19,165 shares during the period. Citigroup Inc. increased its position in shares of TMC the metals by 46.1% during the first quarter. Citigroup Inc. now owns 61,937 shares of the company’s stock worth $160,000 after acquiring an additional 19,545 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of TMC the metals by 5,685.4% during the first quarter. Bank of Montreal Can now owns 607,470 shares of the company’s stock worth $1,331,000 after acquiring an additional 596,970 shares during the period. Baird Financial Group Inc. lifted its position in TMC the metals by 7,391.3% in the 1st quarter. Baird Financial Group Inc. now owns 1,198,600 shares of the company’s stock valued at $3,104,000 after acquiring an additional 1,182,600 shares in the last quarter. Finally, Luminus Management LLC acquired a new position in TMC the metals in the 1st quarter worth $971,000. Institutional investors and hedge funds own 4.39% of the company’s stock.

Insider Buying and Selling

In other news, CFO Craig Shesky sold 233,424 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $1.61, for a total value of $375,812.64. Following the transaction, the chief financial officer now directly owns 947,242 shares in the company, valued at approximately $1,525,059.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Anthony O’sullivan sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $1.33, for a total transaction of $66,500.00. Following the completion of the transaction, the insider now owns 946,829 shares in the company, valued at $1,259,282.57. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Craig Shesky sold 233,424 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $1.61, for a total transaction of $375,812.64. Following the completion of the sale, the chief financial officer now directly owns 947,242 shares of the company’s stock, valued at approximately $1,525,059.62. The disclosure for this sale can be found here. 31.30% of the stock is currently owned by insiders.

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 the Clarion Clipperton Zone (CCZ) in the south-west of San Diego, California. It primarily explores for nickel, cobalt, copper, and manganese products.