TMC stock reaches 52-week high at 7.45 USD

TMC stock has reached a new 52-week high, hitting a price of 7.45 USD, with the company now commanding a market capitalization of $2.4 billion. According to InvestingPro data, the stock’s RSI indicates overbought conditions, suggesting potential caution. This milestone reflects a significant upward trajectory over the past year, with the stock experiencing a remarkable 1-year change of 372.14%. The surge in TMC’s stock price underscores investor confidence and interest in the company’s potential, as it continues to attract attention in the market. This latest high marks a notable achievement for TMC, positioning it favorably among its peers. InvestingPro analysis indicates the stock is currently trading above its Fair Value, with analyst price targets ranging from $6 to $12. Discover 8 more exclusive ProTips and comprehensive analysis in the Pro Research Report, available with an InvestingPro subscription.

In other recent news, TMC the metals company Inc (NASDAQ:TMC). has secured an $85.2 million investment from Korea Zinc Co., Ltd. through a private placement of common shares and warrants. This strategic equity investment grants Korea Zinc a 5% ownership stake in TMC, with the purchase of 19.6 million common shares at $4.34 per share. Additionally, Korea Zinc received a three-year warrant to purchase an additional 6.9 million common shares at an exercise price of $7 per share. This capital infusion is a significant development for TMC as it continues its exploration of battery metals. Furthermore, TMC’s subsidiary received a positive notice from the National Oceanic and Atmospheric Administration (NOAA) regarding exploration license applications, marking progress in securing licenses for deep seabed mining. Meanwhile, TMC has updated its Sponsorship Agreement with the Republic of Nauru, strengthening their partnership in seafloor mineral resources development. In contrast, Iceberg Research has taken a short position on TMC, raising concerns about the company’s financial assumptions and projections. The research firm highlighted discrepancies in TMC’s cost projections and questioned the feasibility of its recovery rate assumptions.

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