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Tag: TMC

  • The Metals Company (TMC) Pushes On Winning Momentum

    The Metals Company Inc. (NASDAQ: TMC) is a deep-sea miner that has been playing all its cards right. 2022 proved to be a stellar year for the company, and the market appears fully confident that this momentum will be pushed on through the upcoming years, despite macroeconomic concerns.

    The Metals Company Makes Breakthrough in Hidden Gem Project

    The recent quarters have been largely positive for The Metals Company (TMC), following the achievement of several milestones, and the ground covered towards its broader strategy. TMC had gone on to commission and launch the pilot collection system under its ‘hidden gem’ project, which comes as a breakthrough in the field of polymetallic module collection. The management calls the update one of the most significant developments in deep-sea mining since the 1970s. The system was, in many ways, a blaring success, especially when considering that it traveled more than 80 kilometers across the seabed, and collected 4500 tons of material.

    Financial Performance for TMC Remains Stellar

    In addition to TMC’s stunning milestones, it remains impressive on the financial front too. During 2022, it saw a cash injection of $30 million in pipe funding, which came solely through its existing investors. The initiative delivered a major boost to the company, and extended its cash runway by a full year, further broadening its forward-looking prospects. Moreover, the move comes at a time when similar companies may be facing financial pressures, with a looming recession, and staggering levels of inflation across the board. Due to this, many in the market are bullish on TMC.

    Conclusion

    TMC has come a long way, making some major strides in 2022 alone. With milestone achievements in its technology and its financial wins, the company stands as a promising deep-sea mining play to bet on. There are few names as promising as TMC within this domain.

  • TMC the metals company Inc. (TMC) Stock Down in Premarket, Here’s why.

    TMC the metals company Inc. (TMC) Stock Down in Premarket, Here’s why.

    TMC the metals company Inc. (TMC) is involved in the exploration of low-impact battery metals from seafloor polymetallic nodules. The aim of the exploration is the supply of metals for the clean energy transition and acceleration of the shift towards a circular metal economy.

    TMC stock price during the regular trading on March 14, 2022, gained 22.6% to be $3.19. Its price dropped by -5.96% at the last check of the premarket session of March 15, 2022.

    TMC: Events and Happenings

    On March 14, 2022, TMC reported hosting a fourth-quarter financial release and conference call on March 24, 2022. It also updated the IR calendar for the first half of 2022 as the Executive management will represent the company in multiple events.

    On February 28, 2022, TMC applauded the Western leaders for their mounting acknowledgment of seafloor polymetallic nodules potential to boost the domestic mineral supply chains. On February 10, 2022, TMC updated on the appointment of Kathleen McAllister as an Independent Director to its BoDs. With this appointment, the company achieved the milestone of 50-50 gender parity in its boardroom.

    On January 5, 2022, TMC informed the press about the closure of Environmental Expedition 5E, which is an offshore research targeted sampling campaign of benthic and pelagic fauna with diverse investigations. The research illustrated the role of the ecosystem on the abyssal seafloor.

    TMC: Key Financials

    On November 15, 2021, TMC released an unaudited Q3 2021 financial report for three months ended September 30, 2021. Some significant highlights are shared here.

    Revenue

    No revenues were recorded in the third quarter of 2021 as well as in the same quarter of 2020.

    EPS

    Q3 2021 basic and diluted net loss was $36.5 million or $0.18 per share compared to $6.78 million or $0.04 per share in the comparable third quarter of 2020. The company’s net loss soared year-over-year. Also, its EPS remained in line with the expectations.

    Conclusion

    TMC stock outpaced in the year-to-date period as it surged by more than 60%. The current premarket stock decline is the impact of shedding the gain associated with its statement of financials and multiple events releases. TMC expects an EPS of -$0.10 for Q4 2021.

  • TMC The Metals Company Inc. (TMC) Continues to Rise on Nickel Price Spike to All-Time-High

    On March 10, shares of TMC The Metals Company Inc. (TMC) continued to rise in the after hours. The stock has been bullish this week as Nickel prices reached an all-time high.

    Source: iStock

    During the regular trading session, the stock fluctuated between a high of $2.47 and a low of $2.11. TMC closed the session with a nice gain of 17.16%, at $2.39 per share. The volume of the share traded in the session remained well above the average at 14.89 million. TMC continued to rise in the following after-hours session to add a further 15.06%. Hence, the stock had a price of $2.75 per share in the after-hours on Thursday while 1.24 million shares exchanged hands.

    Founded in 2021, TMC The Metals Company Inc. produces metals from polymetallic rocks for powering electric vehicles. The Canada-based company has a market capitalization of 4459.53 million. Currently, the company has 225.26 million shares outstanding in the market.

    TMC’s Movement and Reasons

    According to the company’s estimates, its portfolio of assets represents the largest undeveloped nickel project worldwide. Nickel, an important material in electric vehicle batteries reached its all-time-high price this week. While the surge in Nickel price was reason enough for Nickel and EV battery stocks to soar high, many other background developments also have a role to play. More and more governors are focusing on the need for electric vehicles and alternative battery infrastructure. Furthermore, the EV industry follower Electrek reported that Tesla is raising prices of its select EVs, particularly ones that have nickel in their batteries. While there is no official word on the relation of the price of the EVs to the nickel price surge, they definitely seem related. Thus, as a subsequent result, TMC has been bullish throughout this week. In the past five days, the stock has increased by a huge 70.71% while adding 14.90% year to date.

    Recent Developments

    On February 28, the company commended Western political and military leaders for their increasing interest and acknowledgment of seafloor polymetallic nodules’ potential. The commendation came after several retired generals and officers wrote a letter to the U.S. DoD for the responsible development of polymetallic nodules resource in the Clarion-Clipperton Zone (CCZ).

    On February 10, TMC announced the appointment of Kathleen McAllister as an independent director to its board. She will also assume the role of the company’s Audit Committee Chair, by April 1, 2022.