The Metals Company Is Under $5. Here's Why Long-Term Investors Should Pay Attention.

It's been choppy waters for TMC The Metals Company (NASDAQ: TMC) recently. While shares of the deep-sea mining company have buoyed as high as $11.35 over the past year, they've plunged 35% (as of this writing) over the past month, and they're now sitting just over $4.

While the market's sentiment for The Metals Company stock may have soured recently, the fact remains that copper, nickel, cobalt, and manganese -- the metals the company plans to produce when it starts operations -- remain in high demand due to the vital importance they serve in the defense and tech industries. Those with multiyear investing horizons, therefore, should consider dipping their toes in the deep-sea mining investment waters.

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This disruptive mining company is sailing in the right direction

With the recent decline in The Metals Company stock, it's logical to speculate that the company has hit some formidable obstacle that has compromised its ability to commence operations -- especially since the company is in uncharted waters. There are currently no companies engaged in commercial deep-sea mining operations for critical minerals.

But the decline in the company's stock is more a feature of the bearish sentiment pervading the market now -- not a reflection of the company, per se.

In fact, the company's path toward commencing commercial operations seems clearer than ever. While red tape has hindered the company's progress in the past, the company announced in early March that the National Oceanic and Atmospheric Administration (NOAA) had found the company's application for an exploration license and commercial recovery permit under the Deep Seabed Hard Mineral Resources Act "is in substantial compliance with the requirements of the Act and its implementing regulations."

During its recent fourth-quarter 2025 financial results presentation, management elucidated the importance of NOAA's evaluation of the application, stating that its "confidence in our ability to secure the permit within a year is high."

The metals that The Metals Company anticipates producing, copper, nickel, manganese, and cobalt, all appear on the U.S. Geological Survey's Critical Minerals list. Moreover, the Trump administration has made the shoring up of the domestic supply of critical minerals a priority. In April 2025, President Trump signed executive orders to spur the development of the deep-sea mining industry and secure the United States' supply of minerals essential to its security.

For those with a high tolerance for risk, now's the time to click the buy button

With the recent market sell-off, investors have a great opportunity to load up on growth stocks at a discount to their previous valuations -- such is the case with The Metals Company. Those considering investments in the deep-sea mining company must be comfortable with the higher risk, as there's no guarantee the company will commence commercial operations or generate a profit after operations begin.

On the other hand, investors seeking a more conservative approach to critical minerals exposure will find an investment in a metals exchange-traded fund (ETF) to be a more prudent option.

Scott Levine has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.