The Metals Company share price continues to trade above $3 ahead of Corporate Conference Call

The Metals Company continues to trade above $3 on the Nasdaq exchange, as it prepares for its Q1 Corporate Update Conference Call on Wednesday this week.

TMC closed trading on Friday at $3.04, a significant increase from its 52-week low of $0.72, as it continues to rebound in the wake of Donald Trump's deep sea mining executive order and its subsequent application for a licence.

The company's market capitalization stands at approximately $1.12 billion, indicating growing investor confidence although earnings per share remains negative. 

TMC's stock had previously declined significantly from its all-time high of $12.45 in September 2021 to below the $1 threshold as recently as January this year, prompting serious delisting warnings from Nasdaq.

However the stock surged in April as policy changes in the US became imminent although its price remains below its $3.80 high of the last year.

TMC opens trading this morning 2.47% up last week, 9.8% up over last month and 217.35% up over the last 6 months, telling the story of its wildly changing fortunes in the last year as Donald Trump came to power, touting both the need for minerals and the need to beat China.

Analysts predict a price target of up to $6 for TMC's stock in the next twelve months.

The company's earnings report on Wednesday should provide additional insights into its financial health and future prospects as it gets more media coverage.

What's next

The company is expecting a thumbs up or down by end of June from the National Oceanic and Atmospheric Administration (NOAA) on whether its 29 April application for a deep sea mining license is compliant with legal requirements for such applications.

This is only a first step. NOAA will only proceed with a full review of the application after this hurdle.

TMC says it hopes to start harvesting the polymetallic nodules by 2027.

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