TMC the metals company Inc. (NASDAQ:TMC - Get Free Report)'s share price gapped up prior to trading on Friday following a better than expected earnings announcement. The stock had previously closed at $1.70, but opened at $1.98. TMC the metals shares last traded at $1.97, with a volume of 3,568,765 shares changing hands.
The company reported ($0.05) earnings per share for the quarter, beating analysts' consensus estimates of ($0.06) by $0.01. The business had revenue of ($20.18) million for the quarter.
Analyst Ratings Changes
Several research analysts recently weighed in on TMC shares. Alliance Global Partners began coverage on shares of TMC the metals in a research report on Wednesday, January 15th. They issued a "buy" rating and a $3.75 price objective for the company. Wedbush reissued a "neutral" rating and set a $4.00 price objective on shares of TMC the metals in a report on Friday.
Check Out Our Latest Research Report on TMC the metals
Institutional Trading of TMC the metals
A number of institutional investors and hedge funds have recently modified their holdings of TMC. Gray Wealth Management Inc. raised its position in shares of TMC the metals by 59.7% during the fourth quarter. Gray Wealth Management Inc. now owns 23,700 shares of the company's stock worth $27,000 after purchasing an additional 8,863 shares during the period. Oppenheimer & Co. Inc. acquired a new position in TMC the metals during the 4th quarter worth approximately $28,000. Raymond James Financial Inc. acquired a new stake in shares of TMC the metals in the fourth quarter valued at approximately $28,000. Independent Advisor Alliance acquired a new position in TMC the metals during the fourth quarter worth $42,000. Finally, Virtu Financial LLC bought a new stake in TMC the metals during the 3rd quarter worth about $44,000. 4.39% of the stock is owned by institutional investors.
TMC the metals Price Performance
The stock has a market capitalization of $533.41 million, a price-to-earnings ratio of -5.31 and a beta of 1.52. The firm has a 50-day moving average of $1.78 and a 200 day moving average of $1.27.
TMC the metals Company Profile
(
Get Free Report)
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.
Featured Articles
Before you consider TMC the metals, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and TMC the metals wasn't on the list.
While TMC the metals currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Enter your email address and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
