TMC the metals company (TMC) is well-positioned to be a "key player" in the critical metal supply chain, backed by multiple tailwinds and its first-mover advantage in deep-sea mining, Wedbush Securities said in a note on Wednesday.

The tailwinds include a recent executive order signed by US President Donald Trump in support for seafloor nodule collection, processing, and refining, Wedbush said, adding that this will pave the way for TMC to start commercial production at the Clarion Clipperton Zone sooner.

TMC has also raised over $120 million in the last month through strategic investments, including a recent $85 million investment from Korea Zinc, which will allow it to begin production and scale operations, Wedbush said.

TMC is set to be a "winner" in the ongoing trade war between the United States and China, as the US seeks to develop a rare earth supply chain that does not rely on China, Wedbush said.

Wedbush Securities upgraded TMC to outperform, from neutral, with a higher price target of $11 from $6.