The Metals Company's First-Mover Advantage in Deep-Sea Polymetallic Nodule Collection Remains Underappreciated, Wedbush Says

MT Newswires Live04-20

The Metals Company's (TMC) first-mover position in deep-sea polymetallic nodule collection is underappreciated at current levels, Wedbush said in a Monday research report.

There is a clear and accelerating path to commercial production in the Clarion Clipperton Zone with significant US government support, according to the note.

The company's permitting application to the National Oceanic and Atmospheric Administration was deemed substantially compliant in March and is on track for a permit grant within the next 12 months, analysts wrote.

The company won exclusive rights to a lease in Brownsville, Texas, for a nodule processing hub, which Wedbush said is a "critical prerequisite" to unlocking a US government partnership and could drive a re-rating of the stock.

The company is expected to have sufficient liquidity for at least the next 12 months, according to Wedbush.

The brokerage said it maintained its outperform rating on the stock and its $8 price target.

Price: 5.46, Change: +0.14, Percent Change: +2.63

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