TMC the metals (NASDAQ:TMC) Issues Quarterly Earnings Results

TMC the metals (NASDAQ:TMC) issued its quarterly earnings results on Thursday. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01, Zacks reports. The firm had revenue of ($20.18) million during the quarter.

TMC the metals Trading Up 16.2 %

NASDAQ TMC traded up $0.28 during mid-day trading on Friday, hitting $1.98. The company’s stock had a trading volume of 3,568,765 shares, compared to its average volume of 1,604,737. The company’s 50 day simple moving average is $1.78 and its 200 day simple moving average is $1.26. TMC the metals has a twelve month low of $0.72 and a twelve month high of $2.55. The firm has a market capitalization of $640.42 million, a price-to-earnings ratio of -6.35 and a beta of 1.52.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TMC. Alliance Global Partners assumed coverage on TMC the metals in a research note on Wednesday, January 15th. They issued a “buy” rating and a $3.75 price objective on the stock. Wedbush reissued a “neutral” rating and set a $4.00 target price on shares of TMC the metals in a research note on Friday.

Insiders Place Their Bets

In related news, insider Erika Ilves sold 217,099 shares of TMC the metals stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $1.11, for a total transaction of $240,979.89. Following the transaction, the insider now owns 998,170 shares of the company’s stock, valued at $1,107,968.70. The trade was a 17.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 30.00% 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.