Metals Company initiated with a Buy at Alliance Global Partners

Alliance Global Partners initiated coverage of Metals Company (TMC) with a Buy rating and $3.75 price target Metals Company is a battery metals company focused on polymetallic seafloor nodule collection from its licensed areas in the Pacific Ocean, notes the analyst, who highlights that the company controls rights to “one of the largest undeveloped nickel projects in the world” that also hosts a significant amount of copper, cobalt, and manganese. The firm believes the company has a first-mover advantage in the nodule collection segment of the battery materials market and expects 2025 to serve as “a pivotal year” in the transition to commercial operation.