Wedbush Brokers Reduce Earnings Estimates for TMC the metals

TMC the metals company Inc. (NASDAQ:TMC) – Stock analysts at Wedbush decreased their FY2024 EPS estimates for shares of TMC the metals in a note issued to investors on Monday, November 18th. Wedbush analyst D. Ives now expects that the company will earn ($0.27) per share for the year, down from their prior forecast of ($0.25). The consensus estimate for TMC the metals’ current full-year earnings is ($0.21) per share. Wedbush also issued estimates for TMC the metals’ Q4 2024 earnings at ($0.06) EPS, Q2 2025 earnings at ($0.03) EPS, Q3 2025 earnings at ($0.03) EPS, Q4 2025 earnings at ($0.03) EPS and FY2025 earnings at ($0.13) EPS.

TMC the metals Price Performance

TMC the metals stock opened at $0.92 on Thursday. The firm has a 50-day moving average of $1.00 and a 200-day moving average of $1.18. TMC the metals has a one year low of $0.80 and a one year high of $2.07. The company has a market cap of $297.26 million, a price-to-earnings ratio of -2.96 and a beta of 1.69.

Institutional Investors Weigh In On TMC the metals

Several hedge funds have recently bought and sold shares of TMC. Virtu Financial LLC acquired a new stake in TMC the metals in the 1st quarter valued at about $45,000. New Hampshire Trust acquired a new stake in TMC the metals during the second quarter worth approximately $543,000. Brown Lisle Cummings Inc. lifted its position in TMC the metals by 100.0% during the second quarter. Brown Lisle Cummings Inc. now owns 50,000 shares of the company’s stock worth $68,000 after acquiring an additional 25,000 shares during the last quarter. Finally, Old West Investment Management LLC lifted its position in TMC the metals by 100.0% during the third quarter. Old West Investment Management LLC now owns 1,593,230 shares of the company’s stock worth $1,689,000 after acquiring an additional 796,615 shares during the last quarter. 4.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at TMC the metals

In related news, Director Andrew Hall sold 66,000 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $0.93, for a total value of $61,380.00. Following the completion of the sale, the director now directly owns 182,966 shares in the company, valued at approximately $170,158.38. This trade represents a 26.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company 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.