TMC The Metals Company Estimates That It Will Require $60M-$70M Of Cash In Addition To The $20M Cash On Hand As Of June 30, 2023 To Submit An Application For An Exploitation Contract For NORI Area D Following The July 2024 Meeting Of The ISA
Portfolio Pulse from Benzinga Newsdesk
TMC The Metals Company estimates it will need an additional $60M-$70M, on top of its $20M cash on hand, to apply for an exploitation contract for NORI Area D after the July 2024 ISA meeting. Meanwhile, Rocky Brands reported quarterly sales of $99.82M, missing the analyst consensus estimate of $103.80M by 3.83% and marking a 38.40% decrease from the same period last year.
August 04, 2023 | 10:34 am
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NEGATIVE IMPACT
Rocky Brands reported quarterly sales of $99.82M, missing the analyst consensus estimate by 3.83% and marking a 38.40% decrease from the same period last year.
Missing sales estimates and a significant year-over-year decrease could negatively impact investor sentiment and lead to a short-term decrease in RCKY's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
TMC The Metals Company will require an additional $60M-$70M to apply for an exploitation contract for NORI Area D. This could potentially strain the company's financial resources.
The need for additional funds could strain TMC's financial resources, potentially leading to increased borrowing or dilution for shareholders. This could negatively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100