The Metals Company (TMC) Stock Is Climbing Wednesday: What's Going On?

The Metals Company (NASDAQ:TMC) stock is trading higher Wednesday after Wedbush upgraded the stock from a Neutral rating to an Outperform rating and raised its price target from $6 to $11.

What To Know: Wedbush has “significantly increased confidence” in the company’s longer-term growth potential after President Donald Trump signed an Executive Order supporting critical mineral development at the end of April.

Trump's April 24 executive order directs federal agencies to fast-track permits for seabed mining of critical minerals like nickel, cobalt and rare earths. Overall, it aims to boost domestic processing, encourage the use of U.S. ships and reduce reliance on foreign supply chains, specifically related to China.

The Metals Company is developing deep-sea mining technology to extract battery metals from the ocean floor, making it a potential beneficiary of the policy shift toward domestic seabed resource development.

How To Buy TMC Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in The Metals Company’s case, it is in the Materials sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

See Also: SAIC Lands Nearly $1 Billion Contract To Modernize US Air Force

TMC Price Action: At the time of writing, The Metals Company shares are trading 16.8% higher at $7.72, according to data from Benzinga Pro.

Photo: courtesy of The Metals Company.