TMC the metals (NASDAQ:TMC) Shares Gap Up – What’s Next?
by Teresa Graham · The Cerbat GemTMC the metals company Inc. (NASDAQ:TMC – Get Free Report)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $3.75, but opened at $3.89. TMC the metals shares last traded at $3.7350, with a volume of 380,580 shares traded.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of TMC the metals in a report on Friday, July 17th. Maxim Group initiated 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. HC Wainwright reiterated a “buy” rating and issued a $11.75 target price on shares of TMC the metals in a research report on Tuesday, June 2nd. Finally, Stifel Nicolaus initiated coverage on shares of TMC the metals in a report on Friday, August 28th. They issued a “buy” rating and a $10.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $10.44.
Get Our Latest Analysis on TMC
TMC the metals Trading Up 0.4%
The company has a market capitalization of $1.66 billion, a P/E ratio of -5.14 and a beta of 2.10. The stock has a 50 day moving average price of $4.16 and a 200 day moving average price of $4.87.
TMC the metals (NASDAQ:TMC – Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.08). On average, research analysts predict that TMC the metals company Inc. will post -0.33 EPS for the current year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd acquired a new stake in TMC the metals during the 4th quarter worth approximately $33,000. Coastal Bridge Advisors LLC acquired a new stake in TMC the metals in the second quarter valued at $44,000. Northwestern Mutual Wealth Management Co. acquired a new stake in TMC the metals in the second quarter valued at $44,000. Vise Technologies Inc. bought a new position in TMC the metals during the 2nd quarter worth $45,000. Finally, Bank of New York Mellon Corp acquired a new position in TMC the metals during the 2nd quarter worth about $45,000. Institutional investors and hedge funds own 4.39% of the company’s stock.
About TMC the metals
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.