TMC (TMC) remains poised to benefit from rising US demand for rare earths, despite China's plans to ease export restrictions, Wedbush Securities said Friday in a report.

"TMC is well-positioned to emerge as a critical enabler of US supply chain independence through increased urgency from trade tensions with China," the report said.

The company is also set to "be a key player in the critical metal supply chain due to its first-mover advantage in deep sea mining," as the Trump administration considers consolidating and streamlining regulatory processes for issuing exploration licenses and commercial permits, Wedbush said.

TMC continues to target Q4 2027 for the start of commercial production, as "seafloor nodule collection, processing, and refining continues to be a top priority" in the US, the report said.

Wedbush reiterated its outperform rating on TMC stock with a price target of $11.

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