It's been a rocky road for deep-sea mining specialist The Metals Company (TMC 2.18%) so far in 2026. After the first full week of trading was in the books, The Metals Company stock had risen more than 13%. Since then, however, shares have headed in the other direction. As of this writing, The Metals Company stock is down more than 4% year to date.
But the stock's weak performance in 2026 doesn't mean that investors who started positions three years ago are looking at losing positions. Let's take a closer look to see whether shares of this innovative mining stock have powered higher over the past three years.
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A novel approach to producing critical metals has piqued investors' interests
Unlike conventional mining companies that produce metals from digging in the ground, The Metals Company aspires to harvest polymetallic nodules from the seafloor then producing copper, nickel, manganese, and cobalt.
NASDAQ: TMC
Key Data Points
Over the years, the company has faced uncertainty stemming from unclear international regulations regarding deep-sea mining. It has benefited from President Trump's executive orders last April that sought to facilitate the development of the deep-sea mining industry. Subsequently, The Metals Company has submitted an application that it characterizes as "the first consolidated exploration license and commercial recovery permit application submitted under NOAA's new consolidated application and review process."
Despite some volatility, The Metals Company stock has benefited from strong investor interest as the company pushes closer toward launching commercial operations. Those who purchased $1,000 in stock three years ago have seen their positions grow to about $5,800 as of the end of trading on Feb. 19.
Have investors missed the boat on The Metals Company stock?
With The Metals Company inching closer to starting commercial operations, growth potential for patient investors remains. It's critical that those considering positions remember, though, that substantial risk also remains since there's no guarantee that the company will in fact start commercial operations, or, if it does, that the company will achieve profitability. Fortunately for those with lower risk tolerances, there are other metal stocks to consider.
