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

Core Viewpoint - TMC The Metals Company reported third-quarter earnings that missed analyst expectations, leading to a decline in stock price [1][2]. Financial Performance - The company reported quarterly losses of 14 cents per share, which was worse than the analyst estimate of a 6-cent loss [2]. - Exploration and evaluation expenses for the quarter were $9.6 million, a decrease from $11.8 million in the same quarter last year [2]. Strategic Developments - CEO Gerard Barron highlighted the completion of the Pre-Feasibility Study and Initial Assessment, noting a surge in public and private investment in critical minerals and energy supply chains [3]. - These studies are seen as a significant milestone for the company, laying the groundwork for strategic and policy engagements in a unique market opportunity [3]. Stock Performance - Following the earnings report, TMC stock experienced a decline of 3.29%, trading at $4.81 in extended trading [4].