Should You Buy This EV Metals Stock That's Up 576% This Year?

Core Insights - TMC The Metals Company has seen a significant increase in stock value, rising 576% this year, indicating strong investor interest in the deep-sea minerals sector [1][10] - The company focuses on harvesting polymetallic nodules from the ocean floor, which are rich in critical metals such as nickel, cobalt, manganese, and copper, essential for various industries and a lower-carbon future [3][4] Company Overview - TMC is based in Vancouver and holds exploration rights in the Clarion-Clipperton Zone, a mineral-rich area in the Pacific Ocean [7] - The company has not yet commenced mining operations, pending regulatory approval from the International Seabed Authority (ISA) [7][9] Industry Context - The U.S. relies heavily on foreign sources for critical minerals, with over 80% of its supply coming from abroad, raising national security and environmental concerns [4][5] - Deep-sea mining is presented as a less disruptive alternative to land-based mining, which threatens sensitive ecosystems [6] Financial Performance - TMC reported a net loss of $20.6 million in Q1 2025 and has invested over $500 million in developing deep-sea mining technology [11] - The company has $2.3 million in cash and $41.5 million in available credit, which is expected to sustain operations until at least May 2026 [11] Future Projections - TMC has ambitious projections for its NORI-D project, estimating nearly $2 billion in EBITDA by 2027 and annual revenue of $4.7 billion from 2030 to 2046, although these estimates are based on numerous assumptions [13]