Wedbush Issues Negative Outlook for TMC the metals Earnings

TMC the metals company Inc. (NASDAQ:TMC) – Investment analysts at Wedbush lowered their FY2028 EPS estimates for TMC the metals in a research note issued on Friday, August 15th. Wedbush analyst D. Ives now forecasts that the company will post earnings per share of $0.36 for the year, down from their prior forecast of $0.37. Wedbush has a “Outperform” rating and a $11.00 price target on the stock. The consensus estimate for TMC the metals’ current full-year earnings is ($0.22) per share.

TMC the metals (NASDAQ:TMC) last posted its quarterly earnings results 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).

Separately, HC Wainwright restated a “buy” rating and set a $7.25 price target on shares of TMC the metals in a report on Monday. Three analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $7.33.

TMC the metals Trading Down 1.5%

Shares of TMC the metals stock opened at $4.72 on Monday. The company has a market capitalization of $1.71 billion, a P/E ratio of -12.76 and a beta of 1.59. The stock has a fifty day simple moving average of $6.33 and a 200 day simple moving average of $3.90. TMC the metals has a 12-month low of $0.72 and a 12-month high of $8.63.

Insider Buying and Selling

In other TMC the metals news, Director Brendan May sold 44,204 shares of TMC the metals 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 sale, the director owned 197,586 shares of the company’s stock, valued at approximately $1,458,184.68. The trade was a 18.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 27.60% of the company’s stock.

Hedge Funds Weigh In On TMC the metals

A number of institutional investors have recently made changes to their positions in TMC. Allworth Financial LP boosted its position in TMC the metals by 48.0% during the 1st quarter. Allworth Financial LP now owns 14,796 shares of the company’s stock valued at $25,000 after buying an additional 4,796 shares during the period. Sprott Inc. bought a new position in TMC the metals in the 1st quarter worth $26,000. Raymond James Financial Inc. bought a new position in TMC the metals in the 4th quarter worth $28,000. NewEdge Advisors LLC bought a new position in TMC the metals in the 2nd quarter worth $28,000. Finally, Wolverine Asset Management LLC raised its holdings in TMC the metals by 752.6% in the 2nd quarter. Wolverine Asset Management LLC now owns 4,945 shares of the company’s stock worth $33,000 after purchasing an additional 4,365 shares in the last quarter. Institutional investors own 4.39% of the company’s stock.

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 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.