Overview

* The Metals Co Q2 net loss widens to $74.3 mln, missing analyst expectations

* EPS for Q2 at -$0.20, compared to analyst estimate of -$0.05

* Co receives NOAA compliance notice for exploration applications, progresses regulatory path

Outlook

* Company targets Q4 2027 for NORI-D commercial production start

* Company expects 10.8 Mtpa production rate from 2031 to 2043

* Company sees low production costs of $1,065 per tonne of nickel

* Company expects 27% after-tax IRR for NORI-D project

Result Drivers

* EXPLORATION COSTS - Decrease in exploration and evaluation expenses due to reduced mining and process development activities

* ADMINISTRATIVE EXPENSES - Increase in general and administrative expenses driven by higher share-based compensation and consulting costs for financing and regulatory efforts

* NON-RECURRING CHARGES - Net loss includes $33 mln charge for fair value of warrants issued to Republic of Nauru

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 EPS -$0.20 -$0.05

(3

Analysts

)

Q2 Net Miss -$74.30 -$18.90

Income mln mln (3

Analysts

)

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

* Wall Street's median 12-month price target for TMC the metals ( TMC ) company Inc is $7.25, about 25% above its August 13 closing price of $5.44

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)