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

TMC the metals (NASDAQ:TMC) released its quarterly earnings data 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 Price Performance

Shares of TMC the metals stock traded up $0.38 during midday trading on Friday, hitting $2.08. The company had a trading volume of 1,787,264 shares, compared to its average volume of 1,600,286. TMC the metals has a 1-year low of $0.72 and a 1-year high of $2.55. The business’s 50 day simple moving average is $1.78 and its two-hundred day simple moving average is $1.26. The stock has a market cap of $673.17 million, a PE ratio of -6.70 and a beta of 1.52.

Wall Street Analysts Forecast Growth

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

Insider Activity at TMC the metals

In other TMC the metals 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 sale, the insider now owns 998,170 shares in the company, valued at $1,107,968.70. The trade was a 17.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 30.00% of the company’s stock.

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.