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In a remarkable display of resilience, TMC (The Metals Company Inc.) stock has soared to a 52-week high, reaching a price level of $3.63. According to InvestingPro data, this represents a dramatic 156% surge over the past six months, though the stock has recently experienced a 13.85% pullback over the last week. This peak represents a significant milestone for the company, which has been riding a wave of investor confidence. Over the past year, TMC, operating under the banner of Sustainable Opportunities Acquisition Corp., has witnessed an impressive 1-year change, with its stock value surging by 64.38%. This bullish trend underscores the market’s growing enthusiasm for TMC’s prospects and its strategic position within the sustainable resources sector. Analysts maintain an optimistic outlook, with price targets ranging from $4.00 to $4.50. InvestingPro analysis indicates the stock is currently overvalued, with 10 additional exclusive ProTips available to subscribers regarding TMC’s financial health and market position.
In other recent news, The Metals Company (TMC) reported a significant improvement in its financial performance for Q4 2024, reducing its net loss to $16.1 million, or $0.05 per share, from $33.5 million, or $0.11 per share, the previous year. This aligns with analyst expectations and highlights the company’s progress in reducing operational costs, particularly in exploration and evaluation expenses. TMC also announced plans to seek permits for deep-sea mineral exploration under the U.S. Deep Seabed Hard Mineral Resources Act, engaging with the National Oceanic and Atmospheric Administration (NOAA) to submit applications by Q2 2025. This strategic shift aims to capitalize on the U.S. regulatory framework, which TMC views as stable and transparent. The company has been engaging with U.S. officials, reflecting a growing interest in deep-sea minerals as a strategic resource. Additionally, TMC’s liquidity remains strong, with $62 million on hand, providing sufficient capital for the next 12 months. The company is also exploring potential service business opportunities, indicating a proactive approach to diversifying its operations.
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