In a report released today, Heiko Ihle from H.C. Wainwright reiterated a Buy rating on TMC the metals company Inc., with a price target of $7.50.
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Heiko Ihle has given his Buy rating due to a combination of factors including TMC’s strategic pivot toward U.S. commercialization and the firm’s ongoing progress in de-risking its operations. The recent financial results, although showing a net loss, are considered less significant due to the lack of current production, with much of the loss attributed to non-cash revaluation related to the company’s strategic shift. The increase in price target to $7.50 reflects confidence in the firm’s future potential and the removal of a prior NAV multiple, despite recent dilution.
Ihle also highlights the importance of TMC’s advancements in permitting and transitioning from exploration to full-scale production, which are expected to mitigate past impacts from government shutdowns. The valuation is driven by a detailed DCF analysis, incorporating the NORI-D Project and other resource areas, with a total company valuation of $3.83 billion. Near-term catalysts include updates from the National Oceanic and Atmospheric Administration, which could further de-risk the NORI-D Project, enhancing the firm’s prospects.
According to TipRanks, Ihle is a top 25 analyst with an average return of 54.3% and a 72.32% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Avino Silver & Gold, Drdgold, and First Majestic Silver.