Brokers Issue Forecasts for TMC the metals FY2024 Earnings

TMC the metals company Inc. (NASDAQ:TMC) – Stock analysts at Edison Inv. Res upped their FY2024 earnings estimates for TMC the metals in a research note issued on Thursday, March 27th. Edison Inv. Res analyst D. Larkam now expects that the company will post earnings per share of ($0.16) for the year, up from their prior forecast 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.

TMC the metals (NASDAQ:TMC) last issued its quarterly earnings data on Thursday, March 27th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. The company had revenue of ($20.18) million for the quarter.

A number of other equities analysts also recently weighed in on the company. Alliance Global Partners initiated coverage on TMC the metals in a research report on Wednesday, January 15th. They set a “buy” rating and a $3.75 price target for the company. Wedbush reaffirmed a “neutral” rating and issued a $4.00 target price on shares of TMC the metals in a research report on Friday.

TMC the metals Price Performance

Shares of TMC the metals stock opened at $1.72 on Monday. The firm has a market cap of $557.73 million, a price-to-earnings ratio of -5.55 and a beta of 1.52. TMC the metals has a one year low of $0.72 and a one year high of $2.55. The stock’s 50-day moving average is $1.78 and its 200-day moving average is $1.27.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Gray Wealth Management Inc. lifted its stake in TMC the metals by 59.7% in the 4th quarter. Gray Wealth Management Inc. now owns 23,700 shares of the company’s stock valued at $27,000 after purchasing an additional 8,863 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new stake in shares of TMC the metals in the fourth quarter valued at approximately $28,000. Raymond James Financial Inc. bought a new position in shares of TMC the metals during the 4th quarter worth approximately $28,000. Independent Advisor Alliance acquired a new position in shares of TMC the metals during the 4th quarter worth approximately $42,000. Finally, Virtu Financial LLC bought a new stake in TMC the metals in the 3rd quarter valued at $44,000. 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.