TMC Stock Slips After Q3 Earnings Miss Estimates: What To Know

Benzinga
Nov 14

TMC The Metals Company, Inc. (NASDAQ:TMC) shares fell after the company released its third-quarter earnings report after Thursday's closing bell, missing analyst estimates. 

Here's a look at the details in the report. 

  • TMC stock is moving. Watch the price action here.

The Details: TMC The Metals Company reported quarterly losses of 14 cents per share, which missed the analyst estimate for losses of six cents.

Exploration and evaluation expenses during the quarter were $9.6 million compared to $11.8 million for the same quarter last year.

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“The completion of our Pre-Feasibility Study and Initial Assessment comes amid a surge of public and private investment into critical minerals, energy and defense supply chains,” said CEO Gerard Barron.

“These studies mark a major milestone for TMC, providing the foundation for the strategic and policy engagements now taking shape around this once-in-a-generation opportunity,” Barron added.

TMC Stock Price: According to data from Benzinga Pro, TMC stock was down 3.29% at $4.81 in Thursday's extended trading.  

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Photo: Shutterstock

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