H.C. Wainwright analyst Heiko Ihle has reiterated their bullish stance on TMC stock, giving a Buy rating on August 5.
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Heiko Ihle has given his Buy rating due to a combination of factors including TMC’s progress towards initial production and its strong financial position. Although the company reported a net loss in the recent quarter, this was primarily due to warrant costs associated with a revised agreement, and not indicative of operational inefficiencies. The company’s cash reserves of $115.8 million are expected to support its operations until production begins in the fourth quarter of 2027.
Additionally, TMC’s receipt of full compliance from the National Oceanic and Atmospheric Administration (NOAA) on its exploration applications is a significant milestone, granting them priority rights over key areas. This regulatory progress, combined with a favorable valuation driven by a discounted cash flow model and the substantial scale of the NORI-D Project, supports the Buy rating. The valuation considers a lower discount rate due to ongoing de-risking efforts by management, resulting in a price target of $7.25 per share. Near-term catalysts include updates from NOAA, which could further de-risk the project and enhance the company’s value.
In another report released on August 5, Wedbush also maintained a Buy rating on the stock with a $11.00 price target.
Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TMC in relation to earlier this year.