Wedbush Upgrades TMC to Outperform, Raises PT

TMC the metals company Inc. (NASDAQ:TMC) is one of the 12 Best Performing Stocks in the Last 6 Months. On June 25, Wedbush upgraded TMC the metals company Inc. (NASDAQ:TMC) from a “Neutral” rating to “Outperform” and also increased the price target from $6 to $11.

Wedbush cited increased confidence in TMC the metals company Inc.’s (NASDAQ:TMC) long-term growth potential. This positive outlook is based on an Executive Order signed by President Trump at the end of April, which aims to increase domestic critical mineral supply through deep-sea mining.

The company is well-positioned to benefit from the government’s efforts to secure domestic supply chains.

The increase in price target by Wedbush indicates that the research firm now has a more bullish outlook on TMC the metals company Inc.’s (NASDAQ:TMC) business with the new policy supporting deep-sea mining operations.

TMC the metals company Inc. (NASDAQ:TMC) is a deep-sea mining exploration company focused on extracting polymetallic nodules, which are used to produce base metals. The company provides the raw materials for energy, infrastructure, and manufacturing.

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Disclosure: None. This article is originally published at Insider Monkey.