TMC Stock Climbs 7% On Allseas Deep-Sea Mining Deal – Stock Approaches 200-DMA Ahead Of Q1 Earnings

• The agreement covers the design, construction, and operation of a large-scale system for recovering polymetallic nodules from the ocean floor.
• Allseas will fund a significant portion of development costs, which will be recovered through future production revenues
• Wall Street expects TMC to report a first-quarter loss of $0.05 per share compared to a loss of $0.06 last year, according to Fiscal.ai.

Shares of The Metals Company Inc. (TMC) climbed more than 7% on Monday after the company unveiled a major milestone in its push toward commercial seabed mining, announcing a landmark contract with Allseas to advance operations in the Pacific Ocean.

TMC shares are trading near their 200-day moving average (200-DMA), and if they breach the threshold, they would hit the milestone for the first time in two months.

Wall Street expects TMC to report a loss of $0.05 per share compared to a loss of $0.06 last year, according to Fiscal.ai. TMC is a pre-revenue firm. The stock has a consensus price target of $11, and all five analysts covering it rate it as a “Buy,” according to Koyfin data.

Allseas Deal Edges TMC Closer To Deep Sea Mining

The agreement covers the design, construction, and operation of a large-scale system for recovering polymetallic nodules from the ocean floor. The project will include two seafloor collector vehicles, a riser pipe, launch and recovery systems, and a surface production vessel. Once collected, nodules will be transported by sea to ports for processing.

Allseas, which brings over 40 years of offshore engineering experience, previously completed a successful pilot test in 2022 that lifted 3,000 tonnes of nodules. Under the agreement, Allseas will also fund a significant portion of development costs, which will be recovered through future production revenues. The system is designed to produce up to three million wet tonnes of nodules per year.

TMC says this project marks a key milestone in building a new supply chain for critical metals used in energy, defense, and infrastructure sectors.

NOAA’s Final Decision Expected By Q1 2027

Earlier this month, TMC said the National Oceanic and Atmospheric Administration (NOAA) confirmed that its consolidated application for deep-sea mining in the Pacific Ocean meets all requirements under the Deep Seabed Hard Mineral Resources Act.

The application covers exploration and commercial recovery of polymetallic nodules in the Clarion-Clipperton Zone in the Pacific Ocean. A draft environmental review and public comment process is expected to take place before NOAA makes its final decision by the end of the first quarter (Q1) of 2027.

How Did Retail Traders React?

Retail sentiment on Stocktwits remained ‘extremely bullish’ over the past 24 hours, amid ‘extremely high’ message volumes.

One user said the partnership “reduces execution risk, financing risk, and timeline uncertainty.”

Another user expects “bigger announcements” on May 14.

The stock has shed around 8% so far in 2026.

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