Wedbush Has Weak Forecast for TMC the metals FY2024 Earnings

TMC the metals company Inc. (NASDAQ:TMC) – Equities researchers at Wedbush cut their FY2024 EPS estimates for TMC the metals in a research report issued on Monday, November 18th. Wedbush analyst D. Ives now anticipates that the company will post earnings per share of ($0.27) for the year, down from their previous forecast of ($0.25). The consensus estimate for TMC the metals’ current full-year earnings is ($0.21) per share. Wedbush also issued estimates for TMC the metals’ Q4 2024 earnings at ($0.06) EPS, Q2 2025 earnings at ($0.03) EPS, Q3 2025 earnings at ($0.03) EPS, Q4 2025 earnings at ($0.03) EPS and FY2025 earnings at ($0.13) EPS.

TMC the metals Trading Down 1.3 %

Shares of NASDAQ TMC opened at $0.90 on Thursday. The business’s 50 day moving average price is $1.00 and its 200-day moving average price is $1.18. TMC the metals has a fifty-two week low of $0.80 and a fifty-two week high of $2.07.

Institutional Trading of TMC the metals

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Old West Investment Management LLC grew its holdings in shares of TMC the metals by 100.0% in the third quarter. Old West Investment Management LLC now owns 1,593,230 shares of the company’s stock worth $1,689,000 after purchasing an additional 796,615 shares during the last quarter. Brown Lisle Cummings Inc. raised its stake in shares of TMC the metals by 100.0% during the second quarter. Brown Lisle Cummings Inc. now owns 50,000 shares of the company’s stock valued at $68,000 after acquiring an additional 25,000 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of TMC the metals in the first quarter valued at approximately $45,000. Finally, New Hampshire Trust bought a new position in TMC the metals in the second quarter worth approximately $543,000. Hedge funds and other institutional investors own 4.39% of the company’s stock.

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.