FY2024 EPS Estimate for TMC the metals Increased by Analyst

TMC the metals company Inc. (NASDAQ:TMC - Free Report) - Analysts at Edison Inv. Res raised their FY2024 earnings estimates for TMC the metals in a research note issued to investors on Thursday, March 27th. Edison Inv. Res analyst D. Larkam now forecasts that the company will earn ($0.16) per share for the year, up from their previous estimate of ($0.17). The consensus estimate for TMC the metals' current full-year earnings is ($0.22) per share. Edison Inv. Res also issued estimates for TMC the metals' FY2025 earnings at ($0.12) EPS.

Several other analysts also recently commented on TMC. Alliance Global Partners initiated coverage on shares of TMC the metals in a report on Wednesday, January 15th. They set a "buy" rating and a $3.75 target price on the stock. Wedbush restated a "neutral" rating and set a $4.00 price objective on shares of TMC the metals in a report on Friday, March 28th.

TMC the metals Trading Up 0.5 %

Shares of NASDAQ:TMC traded up $0.01 during trading on Monday, hitting $1.95. 3,872,319 shares of the company's stock traded hands, compared to its average volume of 1,678,150. The company has a 50-day moving average price of $1.80 and a 200-day moving average price of $1.29. TMC the metals has a 52 week low of $0.72 and a 52 week high of $2.55. The company has a market cap of $632.31 million, a price-to-earnings ratio of -6.29 and a beta of 1.52.

TMC the metals (NASDAQ:TMC - Get Free Report) last posted its earnings results on Thursday, March 27th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.01. The business had revenue of ($20.18) million for the quarter.

Remove Ads

Insider Activity

In other news, CFO Craig Shesky sold 353,702 shares of TMC the metals stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $1.66, for a total value of $587,145.32. Following the sale, the chief financial officer now directly owns 1,145,717 shares in the company, valued at $1,901,890.22. This trade represents a 23.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 30.00% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Oppenheimer & Co. Inc. bought a new stake in TMC the metals during the 4th quarter worth about $28,000. Tidal Investments LLC increased its position in shares of TMC the metals by 32.6% in the third quarter. Tidal Investments LLC now owns 485,332 shares of the company's stock valued at $514,000 after acquiring an additional 119,335 shares during the last quarter. Virtu Financial LLC bought a new stake in TMC the metals during the third quarter worth about $44,000. SBI Securities Co. Ltd. acquired a new position in TMC the metals during the fourth quarter valued at approximately $94,000. Finally, Independent Advisor Alliance bought a new position in TMC the metals in the fourth quarter valued at approximately $42,000. 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.