Ready to Jump After Recent Trade: TMC the metals company Inc. (TMC)

TMC the metals company Inc. (NASDAQ: TMC) stock jumped 0.01% on Monday to $0.86 against a previous-day closing price of $0.86. With 0.38 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.15 million shares. During the session, the Other Industrial Metals & Mining company that operates in wider Basic Materials sector, reached to the highest price of $0.8699 whereas the lowest price it dropped to was $0.8201. The 52-week range on TMC shows that it touched its highest point at $3.34 and its lowest point at $0.51 during that stretch. It currently has a 1-year price target of $3.00.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of TMC was up-trending over the past week, with a rise of 0.60%, but this was up by 37.94% over a month. Three-month performance dropped to -16.98% while six-month performance fell -1.14%. The stock lost -41.03% in the past year, while it has gained 11.05% so far this year. A look at the trailing 12-month EPS for TMC yields -0.40 with Next year EPS estimates of -0.25. For the next quarter, that number is -0.08. This implies an EPS growth rate of -174.30% for this year and -4.20% for next year.

Float and Shares Shorts:

At present, 239.74 million TMC shares are outstanding with a float of 167.14 million shares on hand for trading. On Dec 29, 2022, short shares totaled 5.31 million, which was 2.00% higher than short shares on Nov 29, 2022. In addition to Mr. Gerard Barron as the firm’s CEO & Chairman, Mr. Anthony O’Sullivan B.Sc., M.Sc. serves as its Exec. Officer.

Institutional Ownership:

Through their ownership of 11.31% of TMC’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 3.19% of TMC, in contrast to 28.38% held by mutual funds. Shares owned by individuals account for 0.71%. As the largest shareholder in TMC with 0.76% of the stake, Robert W. Baird & Co., Inc. holds 2,029,194 shares worth 2,029,194. A second-largest stockholder of TMC, Ronit Capital LLP, holds 1,713,891 shares, controlling over 0.65% of the firm’s shares. Storebrand Asset Management AS is the third largest shareholder in TMC, holding 1,480,000 shares or 0.56% stake. With a 0.56% stake in TMC, the Delphi Global is the largest stakeholder. A total of 1,480,000 shares are owned by the mutual fund manager. The Fidelity Nasdaq Composite Index F, which owns about 0.04% of TMC stock, is the second-largest Mutual Fund holder. It holds 115,145 shares valued at 88662.0. R-co Thematic Gold Mining holds 0.04% of the stake in TMC, owning 107,640 shares worth 82883.0.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Sep 29, 2022, TMC reported revenue of $0.00 and operating income of -$18.33M. The EBITDA in the recently reported quarter was -$23.99M and diluted EPS was -$0.05.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for TMC since 1 analysts follow the stock currently. There are 0 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With TMC analysts setting a high price target of $3.00 and a low target of $3.00, the average target price over the next 12 months is $3.00. Based on these targets, TMC could surge 248.84% to reach the target high and rise by 248.84% to reach the target low. Reaching the average price target will result in a growth of 248.84% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. TMC will report FY 2022 earnings on 03/21/2024. Analysts have provided yearly estimates in a range of -$0.35 being high and -$0.35 being low. For TMC, this leads to a yearly average estimate of -$0.35. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. TMC the metals company Inc. surprised analysts by -$0.03 when it reported -$0.12 EPS against a consensus estimate of -$0.09. The surprise factor in the prior quarter was $0.06. Based on analyst estimates, the high estimate for the next quarter is -$0.08 and the low estimate is -$0.08. The average estimate for the next quarter is thus -$0.08.

Summary of Insider Activity:

Insiders traded TMC stock several times over the past three months with 1 Buys and 1 Sells. In these transactions, 15,000 shares were bought while 36,735 shares were sold. The number of buy transactions has increased to 23 while that of sell transactions has risen to 5 over the past year. The total number of shares bought during that period was 9,653,206 while 186,185 shares were sold.

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