TMC the metals (NASDAQ:TMC) Sets New 1-Year High - Still a Buy?

TMC the metals company Inc. (NASDAQ:TMC - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $2.87 and last traded at $2.83, with a volume of 28209443 shares. The stock had previously closed at $1.95.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TMC. Alliance Global Partners assumed coverage on TMC the metals in a report on Wednesday, January 15th. They set a "buy" rating and a $3.75 price target for the company. Wedbush reissued a "neutral" rating and issued a $4.00 target price on shares of TMC the metals in a report on Friday, March 28th.

TMC the metals Stock Up 6.1 %

The firm's fifty day moving average price is $1.91 and its two-hundred day moving average price is $1.38. The stock has a market capitalization of $1.03 billion, a PE ratio of -9.55 and a beta of 1.46.

TMC the metals (NASDAQ:TMC - Get Free Report) last released its quarterly earnings results on Thursday, March 27th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.06) by $0.01. The firm had revenue of ($20.18) million during the quarter. As a group, analysts predict that TMC the metals company Inc. will post -0.22 EPS for the current year.

Insider Buying and Selling

In related news, CFO Craig Shesky sold 353,702 shares of the firm's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $1.66, for a total transaction of $587,145.32. Following the completion of the transaction, the chief financial officer now directly owns 1,145,717 shares of the company's stock, valued at approximately $1,901,890.22. This trade represents a 23.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 30.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. First Manhattan CO. LLC. grew its holdings in TMC the metals by 115.2% during the 4th quarter. First Manhattan CO. LLC. now owns 18,726,800 shares of the company's stock valued at $20,974,000 after buying an additional 10,025,000 shares in the last quarter. Old West Investment Management LLC boosted its position in shares of TMC the metals by 168.0% during the fourth quarter. Old West Investment Management LLC now owns 2,135,038 shares of the company's stock valued at $2,391,000 after buying an additional 1,338,423 shares during the period. Jane Street Group LLC grew its stake in shares of TMC the metals by 7,330.9% during the fourth quarter. Jane Street Group LLC now owns 1,345,812 shares of the company's stock valued at $1,507,000 after buying an additional 1,364,424 shares during the last quarter. Shay Capital LLC raised its holdings in shares of TMC the metals by 965.6% in the fourth quarter. Shay Capital LLC now owns 932,404 shares of the company's stock worth $1,044,000 after buying an additional 844,904 shares during the period. Finally, Tidal Investments LLC lifted its stake in shares of TMC the metals by 11.9% during the 4th quarter. Tidal Investments LLC now owns 542,938 shares of the company's stock worth $608,000 after acquiring an additional 57,606 shares during the last quarter. Hedge funds and other institutional investors own 4.39% of the company's stock.

TMC the metals Company Profile

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.