Deep-Sea Mineral Resources Emerge as National Security Issue
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 17h ago
0mins
Source: Globenewswire
- Market Demand Surge: The global critical minerals market is projected to grow from $328 billion in 2024 to $494 billion by 2030, indicating long-term demand backed by policy support, which attracts investor interest in deep-sea mineral development.
- Deep-Sea Exploration Initiative: Deep Sea Minerals Corp. welcomes NOAA's deep-sea mapping initiative near American Samoa, aimed at collecting high-resolution seabed data to establish a scientific foundation for future mineral development, enhancing the company's competitive edge in the deep-sea mining sector.
- Strategic Investment Opportunities: As geopolitical competition intensifies, the U.S. and allied nations are focusing more on deep-sea mineral resources, with TMC submitting a 65,000 km² exploration application to NOAA, marking the first consolidated application in the industry.
- Technological Innovation Drive: Kraken Robotics announced $35 million in battery sales, with SeaPower batteries offering 200% greater energy density and 46% less weight, enhancing unmanned underwater vehicle capabilities and driving growth in defense and commercial applications.
Analyst Views on RIG
Wall Street analysts forecast RIG stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for RIG is 4.25 USD with a low forecast of 3.00 USD and a high forecast of 5.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
7 Analyst Rating
2 Buy
3 Hold
2 Sell
Hold
Current: 4.960
Low
3.00
Averages
4.25
High
5.00
Current: 4.960
Low
3.00
Averages
4.25
High
5.00
About RIG
Transocean Ltd. is an international provider of offshore contract drilling services for oil and gas wells. The Company's primary business is to contract its drilling rigs, related equipment and work crews on a dayrate basis to drill oil and gas wells. As of February 9, 2017, it owned or had partial ownership interests in and operated 56 mobile offshore drilling units. As of February 9, 2017, its fleet consisted of 30 floaters, seven harsh environment floaters, three deepwater floaters, six midwater floaters and 10 high-specification jackups. As February 9, 2017, it also had four ultra-deepwater drillships and five high-specification jackups under construction or under contract to be constructed. Its contract drilling services operations are spread across oil and gas exploration and development areas throughout the world. The Company's drilling fleet can be characterized as floaters, including drillships and semisubmersibles, and jackups.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
