Edison Inv. Res Weighs in on TMC the metals FY2024 Earnings

TMC the metals company Inc. (NASDAQ:TMC) – Investment analysts at Edison Inv. Res boosted their FY2024 earnings estimates for shares of TMC the metals in a report released on Thursday, March 27th. Edison Inv. Res analyst D. Larkam now expects that the company will post earnings of ($0.16) per share for the year, up from their previous 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 released its quarterly earnings results on Thursday, March 27th. 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 during the quarter.

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

TMC the metals Price Performance

Shares of NASDAQ TMC opened at $1.72 on Monday. The business has a fifty day moving average price of $1.78 and a two-hundred day moving average price of $1.27. The stock has a market capitalization of $557.73 million, a PE ratio of -5.55 and a beta of 1.52. TMC the metals has a fifty-two week low of $0.72 and a fifty-two week high of $2.55.

Hedge Funds Weigh In On TMC the metals

A number of institutional investors have recently modified their holdings of the business. Virtu Financial LLC acquired a new stake in shares of TMC the metals in the 3rd quarter valued at approximately $44,000. Tidal Investments LLC grew its holdings in TMC the metals by 32.6% during the 3rd quarter. Tidal Investments LLC now owns 485,332 shares of the company’s stock worth $514,000 after acquiring an additional 119,335 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new stake in TMC the metals in the fourth quarter valued at $28,000. SBI Securities Co. Ltd. bought a new position in shares of TMC the metals during the fourth quarter worth about $94,000. Finally, Raymond James Financial Inc. acquired a new position in shares of TMC the metals in the fourth quarter worth approximately $28,000. Institutional investors and hedge funds 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.