It's been a rocky road for deep-sea mining specialist The Metals Company (NASDAQ: TMC) so far in 2026. After the first full week of trading was in the books, The Metals Company stock had risen more than 13%. Since then, however, shares have headed in the other direction. As of this writing, The Metals Company stock is down more than 4% year to date. But the stock's weak performance in 2026 doesn't mean that investors who started positions three years ago are looking at losing positions. Let's take a clos ...

We recently published an article titled 11 Best Canadian Growth Stocks to Buy According to Hedge Funds. On January 23, Alliance Global increased its price target on TMC the metals company Inc. (NASDAQ:TMC) to $12.25 from $6.50 while maintaining a Buy rating, reflecting growing confidence in the company’s regulatory and operational progress. The revision follows the announcement of a significant permitting milestone tied to its deep-sea mining initiatives, which the analyst characterized as a pivotal step ...

Core Insights - The mining industry is cyclical and capital intensive, with the best companies being profitable and diversified to withstand market fluctuations [1][2] Group 1: TMC The Metals Company - TMC The Metals Company focuses on deep-sea mining, specifically collecting polymetallic nodules from the Pacific Ocean to process into battery-grade metals [3][5] - Each nodule contains significant quantities of nickel, cobalt, copper, and manganese, which are essential for electric vehicle batteries [5] - TMC has a market cap of $2.7 billion, with a current price of $0.74 and a 52-week range of $1.57 to $11.35 [6][7] - The company is currently pre-revenue, relying on future commercialization prospects [8] Group 2: MP Materials - MP Materials operates the Mountain Pass mine in California, the only large-scale rare-earth mine in the U.S. and the second-largest globally [9][10] - The company plays a critical role in the U.S. rare-earth supply chain, mining elements like neodymium and praseodymium and processing them into permanent magnets [11] - MP has a market cap of $11 billion, with a current price of $61.35 and a 52-week range of $18.64 to $100.25 [10] - In July 2025, MP received a $400 million investment from the Department of Defense and formed a $500 million partnership with Apple [12] Group 3: USA Rare Earth - USA Rare Earth aims to establish a domestic supply chain for rare-earth metals, controlling the Round Top Mountain deposit in Texas [13][14] - The company is in the process of building its mine and magnet manufacturing facilities, having raised approximately $3.1 billion in funding [14] - USA Rare Earth is also pre-revenue, with its Round Top mine expected to be operational by late 2028 [15]

Core Viewpoint - Deep Sea Minerals Corp. is positioned to benefit from the NOAA's deep-sea mapping initiative, which aims to enhance understanding of deep-sea mineral systems and support future policy and resource planning [1][2][3] Industry Insights - The NOAA program will focus on high-resolution seabed mapping, geological characterization, and environmental baseline data collection in federal waters offshore American Samoa, contributing to a broader U.S. government effort to improve scientific understanding of domestic deep-sea mineral systems [2][3] - The initiative is part of the U.S. Department of Commerce's offshore critical minerals agenda, emphasizing the strategic importance of securing access to critical minerals for national defense, advanced manufacturing, energy transition, and emerging technologies [3][4] - As geopolitical competition for critical minerals intensifies, the U.S. and allied nations are increasingly focusing on domestic and allied-controlled sources, including deep seabed resources [5] Company Strategy - Deep Sea Minerals Corp. is focused on evaluating opportunities to support the future supply of critical minerals through the acquisition, exploration, and development of deep-sea mineral assets [6][7] - The company's strategy includes identifying jurisdictions and geological settings with potential exposure to polymetallic nodule systems, which contain metals relevant to defense, industrial manufacturing, clean energy infrastructure, and advanced electronics [7] - The company has begun early-stage engagement with selected governments and regulatory bodies in the Pacific Ocean region to explore potential pathways for future exploration initiatives [8]

Core Insights - The Metals Company (TMC) is positioned to potentially extract polymetallic nodules from the Pacific Ocean, which contain critical metals for clean energy and electric vehicle batteries [1][2] - Recent regulatory changes by NOAA may accelerate TMC's path to commercialization by allowing a consolidated application for exploration and commercial recovery permits [3][4] Company Overview - TMC has a market capitalization of $3.9 billion and its stock price increased by 13.46% to $9.44 [3] - The company currently generates no revenue but estimates the in-place value of its nodules at approximately $23.6 billion [6] - TMC is the first company to apply for a consolidated permit under NOAA's new regulations, which could shorten the timeline for commercial operations [6] Regulatory Environment - NOAA's new rule allows applicants to submit a single application for both exploration and commercial recovery, streamlining the permitting process [4] - This regulatory clarity may enhance TMC's prospects for commercialization, which had previously been uncertain due to a lack of approvals [5] Market Potential - The potential upside for TMC's stock could be significant if the company successfully capitalizes on the value of its polymetallic nodules [6] - Shares priced below $10 may represent an attractive entry point for long-term investors, despite existing execution risks [6]

Core Viewpoint - TMC the Metals Company has seen a stock surge of 13.7% following the filing of the first-ever consolidated exploration license and commercial recovery permit application with NOAA, allowing exploration for seabed minerals [1]. Group 1: Company Developments - TMC USA, a subsidiary of TMC, has submitted a consolidated application under NOAA's new process, marking a significant step in seabed mineral exploration [1][3]. - The application covers an area of approximately 65,000 square kilometers in the Pacific Ocean, more than doubling the previously applied territory [4]. - TMC estimates that the area may contain over 800 million metric tonnes of high-grade nickel, copper, cobalt, and manganese nodules available for recovery [4]. Group 2: Historical Context and Future Prospects - TMC has previously recovered around 3,000 metric tonnes of polymetallic nodules, which is less than 0.038% of the estimated metals available for mining [5]. - The company is in the initial phase of obtaining permission to explore and confirm the feasibility of profitable and environmentally safe metal recovery [6]. - The next critical step will be whether TMC receives NOAA approval for actual mining operations [6].

Core Insights - The Metals Company (TMC) has shown significant stock performance, surging 450% in 2025 and up 17% in early 2026, indicating strong market interest and potential growth [1][2] - TMC's stock price was around $1 per share last year, but a pivotal announcement in April 2025 regarding a commercial recovery permit under U.S. law has drastically changed its trajectory [2][3] - The company currently has a market cap of approximately $2.9 billion, with a project value of its exploration area estimated at $23.6 billion, suggesting a substantial upside potential if the project materializes [3][5] Company Overview - TMC is focused on mining polymetallic nodules, which are critical minerals needed in various industries, including defense and technology [1][7] - The company is navigating regulatory challenges, as it seeks to operate independently of the International Seabed Authority (ISA), which has not finalized a framework for deep-sea mining [3][4] - Current market valuation suggests that TMC's stock is trading at a fraction of its estimated project value, indicating a modest probability assigned by the market for the nodules to enter commercial production [5][6] Market Potential - If TMC can successfully demonstrate the viability of deep-sea mining, it could potentially expand operations to other regions and secure long-term supply contracts with industrial clients [7] - The current stock price of $7 implies a potential upside of about 700% if the market valuation aligns with the project value [6][8] - The path to achieving commercial production is uncertain and may involve political friction, but the long-term prospects remain promising for patient investors [4][8]

Core Viewpoint - The Metals Company (TMC) has experienced significant stock performance in 2025, with a hypothetical investment of $10,000 growing to approximately $58,600, indicating a substantial gain atypical for mining stocks, especially given its pre-revenue status and absence of a commercial license [1] Group 1 - TMC's future is contingent upon obtaining a commercial license for deep-sea mining, which is currently pending regulatory approval from the International Seabed Authority (ISA) [3] - The ISA is expected to create a rulebook that would allow TMC to commence operations, potentially transforming its substantial reserves of polymetallic nodules into revenue [4] - TMC reported a $55.4 million operating loss in Q3 2025, with a net loss of $184.5 million, highlighting the financial pressures the company faces [5] Group 2 - TMC is exploring alternative commercialization routes through the U.S. National Oceanic and Atmospheric Administration (NOAA), with potential support from the Trump administration for deep-sea mining [5] - Despite the promising stock performance, there are uncertainties surrounding TMC's future, necessitating cautious investment strategies [6] - TMC's operational success is heavily reliant on regulatory approval for commercial mining, which remains a critical factor for investors [7]

Company Overview - The Metals Company (TMC) has seen its stock price increase by over 440% this year, currently priced at $6.19 with a market capitalization of $2.6 billion [1][3] - TMC operates in the mining sector but focuses on harvesting polymetallic nodules from the seabed using robotic technology, rather than traditional mining methods [1] Industry Context - The polymetallic nodules contain enough battery metals to support approximately 280 million electric vehicles, which is nearly equivalent to the projected U.S. passenger car fleet of about 300 million by 2025 [2] - The deep-sea mining industry is still in its infancy, with regulatory frameworks being developed, particularly by the International Seabed Authority (ISA) [4] Regulatory Challenges - TMC is currently facing a regulatory impasse that requires a commercial license for its operations, which has not yet been established due to the nascent nature of deep-sea mining [4] - Concerns exist regarding the potential environmental impact of seabed mining on marine ecosystems, which are not fully understood [5] Financial Position - TMC is exploring alternative routes to commercialization, including potential operations under U.S. mining laws, as the U.S. is not a member of the ISA [7] - The company has approximately $116 million in cash and equivalents, but it currently has no commercial revenue [7][8]

Core Insights - The Metals Company (TMC) has seen a significant stock increase of approximately 766% since December 2025, with a nearly 11-fold growth year over year as of mid-October [1][2] - The company focuses on deep-sea mining for polymetallic nodules, which contain critical metals essential for electric vehicle batteries and clean energy infrastructure [3][4] Company Overview - TMC is a Canadian-based deep-sea miner targeting polymetallic nodules rich in nickel, copper, cobalt, and manganese, which are vital for various technological applications [3] - The company has a market capitalization of $3 billion, with a current stock price of $7.93, and has not yet generated any revenue [3][6] Regulatory and Financial Challenges - TMC has not received regulatory approval for commercial mining, which poses a significant risk to its operations and potential revenue generation [4] - The company reported a third-quarter net loss of approximately $185 million, a staggering 780% increase compared to the previous year, highlighting its financial challenges [6]