The Metals Company (TMC) Files for Consolidated Deep-Sea Exploration Permits, Shares Surge Nearly 9%
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Source: stocktwits
- Regulatory Update: NOAA's new regulations streamline the deep-sea exploration permitting process into a single review, expected to enhance U.S. companies' ability to search for critical minerals in international waters, thereby improving overall industry efficiency.
- TMC's Response: The Metals Company announced its intention to submit a consolidated application, anticipating that the new process will significantly reduce the time required to secure a commercial recovery permit, further supporting its strategic transition from exploration to commercial production.
- Stock Performance: Following the announcement of the new regulations, TMC's shares surged nearly 9% in after-hours trading on Wednesday, reflecting a positive market reaction, with the stock having more than quadrupled in value over the past year, indicating increased investor confidence.
- Market Sentiment: On Stocktwits, retail sentiment around TMC remains bullish, with users predicting potential future share prices of $15 to $20, and even $58.40, showcasing optimism regarding the company's growth prospects and permitting progress by 2027.
Analyst Views on TMC
Wall Street analysts forecast TMC stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for TMC is 8.33 USD with a low forecast of 6.50 USD and a high forecast of 11.00 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.
3 Analyst Rating
3 Buy
0 Hold
0 Sell
Strong Buy
Current: 7.210
Low
6.50
Averages
8.33
High
11.00
Current: 7.210
Low
6.50
Averages
8.33
High
11.00
About TMC
TMC the metals company Inc. is a deep-sea minerals exploration company. The Company is focused on the collection and processing of polymetallic nodules found on the seafloor in international waters of the Clarion Clipperton Zone in the Pacific Ocean (CCZ), located approximately 1,300 nautical miles southwest of San Diego, California. The CCZ is a geological submarine fracture zone of abyssal plains and other formations in the Eastern Pacific Ocean, with a length of around 4,500 miles that spans approximately 1,737,000 square miles. These nodules contain high grades of four metals (nickel, copper, cobalt, manganese) which can be used as feedstock for battery cathode precursors (nickel, cobalt and manganese sulfates, or intermediate nickel-copper-cobalt matte) for electric vehicles (EV) and energy storage markets; copper cathode for EV wiring, energy transmission and other applications, and manganese silicate for manganese alloy production required for steel production.
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.
