TMC Shares Have Quintupled In The Past Year — How Much More Upside Does The Street See?

• H.C. Wainwright increased its price target on TMC shares to $11.75 from $7.50 while maintaining a ‘Buy’ rating.
• The analyst said that it believes the application is a "critical step toward further de-risking" of the company’s future operations.
• Alliance Global almost doubled TMC’s price target to $12.25 from $6.50 with a ‘Buy’ rating on the shares.

Shares of The Metals Company Inc. (TMC) surged over 15% on Friday as Wall Street and retail traders consider the impact of the latest updates to U.S. deep-sea mining regulations.

H.C. Wainwright and Alliance Global both raised price targets on The Metals Company after it submitted an application to the National Oceanic and Atmospheric Administration (NOAA) for expedited licensing and permitting for a deep-sea exploration endeavor.

Analysts’ Take

H.C. Wainwright increased its price target on TMC shares to $11.75 from $7.50 while maintaining a ‘Buy’ rating after the company submitted an application to the NOAA for an exploration license and a commercial recovery permit for polymetallic nodules in the Clarion Clipperton Zone.

The analyst said that it believes the application is a "critical step toward further de-risking" of the company’s future operations.

Meanwhile, Alliance Global almost doubled TMC’s price target to $12.25 from $6.50 with a ‘Buy’ rating on the shares, also citing the company’s recent “major permitting milestone” towards its deep-sea mining ambitions.

The analyst said it views regulation changes as a tailwind for The Metals Company, adding that the company maintains its first-mover advantage in the deep-sea mining industry.

NOAA Updates

TMC’s application under NOAA's new process marks the first submission of its kind and covers about 65,000 square kilometers of exploration and commercial recovery area in the CCZ. This is a substantial increase from the 25,000 square kilometers of commercial recovery area in its initial permit application from April 2025.

The NOAA updated its regulations on deep-sea explorations on Wednesday, consolidating the licensing and permitting process for deep-sea explorations into a single and shorter process.

U.S. companies will now be given the option to choose between the previous sequential approach or go with the new consolidated application process.

How Did Stocktwits Users React?

On Stocktwits, retail sentiment around TMC shares was in the ‘extremely bullish’ territory over the past 24 hours amid ‘extremely high’ message volumes.

One bullish user noted that a 200% increase in the recovery zone should ideally bring about a 200% increase in price targets.

Another bullish user said the shares should be trading above $40 by the end of the year.

Shares of TMC have gained over 510% in the past year.

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