TMC the metals (NASDAQ:TMC) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

TMC the metals (NASDAQ:TMC) posted its earnings results on Thursday. The company reported ($0.05) 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 Stock Up 15.6 %

TMC the metals stock opened at $1.97 on Friday. TMC the metals has a twelve month low of $0.72 and a twelve month high of $2.55. The company’s 50-day moving average price is $1.78 and its 200-day moving average price is $1.26. The company has a market cap of $637.50 million, a PE ratio of -6.23 and a beta of 1.52.

Analysts Set New Price Targets

Separately, Alliance Global Partners initiated coverage on TMC the metals in a report on Wednesday, January 15th. They set a “buy” rating and a $3.75 price objective on the stock.

Insider Activity at TMC the metals

In related news, insider Erika Ilves sold 217,099 shares of the stock in a transaction 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 sale, the insider now owns 998,170 shares in the company, valued at approximately $1,107,968.70. This represents a 17.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 30.00% of the stock is owned by insiders.

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.