Alliance Global raised the firm’s price target on Metals Company (TMC) to $12.25 from $6.50 and keeps a Buy rating on the shares. The company recently announced a “major permitting milestone” relating to its deep-sea mining ambitions, the analyst tells investors in a research note. The firm views regulation changes as a tailwind for Metals Company. It believes the company maintains its first-mover advantage in the deep-sea mining industry.
Claim 50% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TMC:
- NOAA approves rule to speed up mining of seafloor, NY Times reports
- Unusually active option classes on open January 22nd
- TMC Files Landmark NOAA Application for Deep-Sea Nodule Mining
- Metals Company files consolidated deep-seabed mining application
- The Metals Company call volume above normal and directionally bullish