Metals Company price target raised to $11.75 from $7.50 at H.C. Wainwright

H.C. Wainwright raised the firm’s price target on Metals Company (TMC) to $11.75 from $7.50 and keeps a Buy rating on the shares after the company submitted an application to the National Oceanic and Atmospheric Administration for an exploration license and a commercial recovery permit for polymetallic nodules in the Clarion Clipperton Zone. The firm believes the application is a “critical step toward further de-risking” of Metals Company’s future operations.