TMC the metals (NASDAQ:TMC) Announces Quarterly Earnings Results

TMC the metals (NASDAQ:TMC) released its earnings results on Thursday. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.01, Zacks reports. The company had revenue of ($20.18) million during the quarter.

TMC the metals Trading Up 22.1 %

Shares of NASDAQ TMC traded up $0.38 during mid-day trading on Friday, reaching $2.08. 1,787,264 shares of the company’s stock were exchanged, compared to its average volume of 1,600,286. The business has a fifty day simple moving average of $1.78 and a 200 day simple moving average of $1.26. TMC the metals has a twelve month low of $0.72 and a twelve month high of $2.55. The firm has a market capitalization of $673.17 million, a price-to-earnings ratio of -6.70 and a beta of 1.52.

Insider Buying and Selling

In other TMC the metals news, insider Erika Ilves sold 217,099 shares of TMC the metals stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $1.11, for a total value of $240,979.89. Following the sale, the insider now owns 998,170 shares of the company’s stock, valued at $1,107,968.70. This trade represents a 17.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 30.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Alliance Global Partners started coverage on shares of TMC the metals in a research note on Wednesday, January 15th. They issued a “buy” rating and a $3.75 target price for the company.

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.