TMC Stock Pares Rally Premarket After US Ocean Agency Backs Deep-Sea Mining Plan — Wall Street Still Sees Up To 80% Upside

• The U.S. National Oceanic and Atmospheric Administration (NOAA) backed a key seabed mining application submitted by the company.
• Shares had already gained momentum Monday, snapping a four-session losing streak and climbing to their best day in more than a month.
• NOAA said TMC’s seabed mining application meets key regulatory requirements, covering a 65,000-square-kilometer exploration.

Shares of TMC The Metals Company, Inc. (TMC) slipped slightly in premarket trading on Tuesday, paring gains after a strong rally, even as the U.S. National Oceanic and Atmospheric Administration (NOAA) backed a key seabed mining filing and analysts pointed to up to 80% upside.

TMC stock snapped a four-session losing streak on Monday, climbing more than 9% to close at $6.27 in its best single-day gain in over a month.

Wall Street Remains Bullish On TMC Stock

Analyst estimates compiled on Koyfin show the stock carries a 12-month average price target of $11.2, implying a potential upside of about 80% from current levels. The highest analyst target stands at $12.25, while the lowest is $9.

Brokerage firms raised their outlook on the company following the regulatory progress in January. Alliance Global increased its price target to $12.25 from $6.5 and maintained a 'Buy' rating, citing a “major permitting milestone” tied to the company’s deep-sea mining plans.

Separately, H.C. Wainwright raised its price target to $11.75 from $7.50 and kept a 'Buy' rating after the company submitted the application to NOAA.

Analyst sentiment currently stands at 'Strong Buy', with five analysts covering the stock, including four 'Buy' ratings and one 'Strong Buy', according to Koyfin data.

TMC Clears Key US Regulatory Step For Seabed Mining

On Monday, TMC said the U.S. National Oceanic and Atmospheric Administration (NOAA) has determined that the application submitted by its unit, The Metals Company USA LLC, to explore and extract minerals from the deep seabed meets the key requirements of the Deep Seabed Hard Mineral Resources Act and related regulations.

The application concerns polymetallic nodule resources in the Clarion Clipperton Zone of the Pacific Ocean.

The submission covers an exploration and commercial recovery area of about 65,000 square kilometers, compared with roughly 25,000 square kilometers in the company’s initial commercial recovery permit application from April 2025.

The company estimates the area contains about 619 million tonnes of wet polymetallic nodules, with potential exploration upside of an additional 200 million tonnes. 

Meanwhile, the company said exploration license applications known as TMC USA A and TMC USA B are progressing as expected, with public comment periods now completed.

How Did Stocktwits Users React?

On Stocktwits, retail sentiment for TMC was ‘bullish’ amid a 1,025% surge in 24-hour message volume.

One user said, “buy, accumulate, HOLD! The last step is the most important but we’ve watched many fail over the years.”

Another user said, “Life changing with this stock.  I can’t believe it is on such discount and cheap too. They must not be familiar with the CFO and his ways.”

TMC stock has surged 245% over the past year. 

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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