Shares of TMC the Metals Company (TMC) surged 5.84% in pre-market trading on Tuesday, following a bullish initiation of coverage by H.C. Wainwright. The investment firm started its coverage of TMC with a Buy rating and set a target price of $5.5, signaling strong confidence in the deep-sea mining company's potential.
H.C. Wainwright analyst Heiko Ihle's positive outlook on TMC comes at a time when the deep-sea mining sector is gaining increased attention. The company, which specializes in exploring and developing deep-sea mining operations, has been in the spotlight recently due to growing interest in undersea metal resources and supportive regulatory developments.
This latest analyst coverage adds to the momentum TMC has been experiencing. Just yesterday, the company's stock climbed 11.46% following reports of the Trump administration's support for expediting deep-sea mining permits and estimates of the global undersea metals market value at $20 trillion. While these factors likely contribute to the overall positive sentiment, today's pre-market surge appears to be directly linked to the new Buy rating from H.C. Wainwright, potentially attracting more investor attention to TMC's growth prospects in the emerging deep-sea mining industry.
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