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

TMC the metals (NASDAQ:TMC) announced its quarterly earnings data on Thursday. The company reported ($0.05) earnings per share (EPS) for the quarter, beating 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 16.2 %

Shares of NASDAQ TMC traded up $0.28 during midday trading on Friday, reaching $1.98. 3,568,765 shares of the company were exchanged, compared to its average volume of 1,604,737. The stock’s 50-day moving average price is $1.78 and its 200-day moving average price is $1.26. The stock has a market cap of $640.42 million, a P/E ratio of -6.35 and a beta of 1.52. TMC the metals has a one year low of $0.72 and a one year high of $2.55.

Wall Street Analyst Weigh In

TMC has been the topic of a number of research analyst reports. Alliance Global Partners assumed coverage on TMC the metals in a report on Wednesday, January 15th. They issued a “buy” rating and a $3.75 target price on the stock. Wedbush reiterated a “neutral” rating and issued a $4.00 target price on shares of TMC the metals in a research report on Friday.

Insider Activity at TMC the metals

In other news, insider Erika Ilves sold 217,099 shares of TMC the metals stock in a transaction on Monday, December 30th. The shares were 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 in the company, valued at approximately $1,107,968.70. The trade was a 17.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 30.00% of the stock is currently owned by company 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.