Old West Investment Management LLC Raises Position in TMC the metals company Inc. $TMC

Old West Investment Management LLC lifted its stake in shares of TMC the metals company Inc. (NASDAQ:TMC) by 49.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,997,238 shares of the company’s stock after buying an additional 662,200 shares during the period. TMC the metals comprises about 2.9% of Old West Investment Management LLC’s holdings, making the stock its 11th largest position. Old West Investment Management LLC owned approximately 0.49% of TMC the metals worth $12,722,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Swiss National Bank purchased a new position in TMC the metals during the second quarter worth about $2,940,000. Mirador Capital Partners LP lifted its position in shares of TMC the metals by 306.1% during the 3rd quarter. Mirador Capital Partners LP now owns 449,990 shares of the company’s stock worth $2,866,000 after buying an additional 339,174 shares in the last quarter. Mission Wealth Management LP purchased a new position in shares of TMC the metals in the 2nd quarter worth approximately $1,980,000. XTX Topco Ltd boosted its stake in shares of TMC the metals by 80.5% in the 2nd quarter. XTX Topco Ltd now owns 306,920 shares of the company’s stock worth $2,026,000 after buying an additional 136,916 shares during the last quarter. Finally, Mutual Advisors LLC bought a new position in shares of TMC the metals in the third quarter valued at approximately $1,390,000. Institutional investors own 4.39% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. HC Wainwright lifted their price target on TMC the metals from $7.50 to $11.75 and gave the stock a “buy” rating in a report on Friday, January 23rd. Wedbush reaffirmed an “outperform” rating and set a $11.00 target price on shares of TMC the metals in a research report on Thursday, January 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of TMC the metals in a report on Wednesday, January 21st. Finally, Zacks Research upgraded shares of TMC the metals from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 13th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $11.38.

Insider Buying and Selling at TMC the metals

In other news, insider Anthony O’sullivan sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $6.77, for a total value of $338,500.00. Following the sale, the insider owned 2,025,667 shares of the company’s stock, valued at $13,713,765.59. The trade was a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 27.60% of the stock is owned by insiders.

TMC the metals Price Performance

Shares of TMC opened at $6.41 on Friday. TMC the metals company Inc. has a 1 year low of $1.57 and a 1 year high of $11.35. The stock’s fifty day moving average price is $7.23 and its two-hundred day moving average price is $6.61. The firm has a market cap of $2.65 billion, a PE ratio of -8.32 and a beta of 1.85.

TMC the metals (NASDAQ:TMC) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.08). Sell-side analysts anticipate that TMC the metals company Inc. will post -0.22 earnings per share for the current fiscal year.

About TMC the metals

TMC the metals company Inc, a deep-sea minerals exploration company, focuses on the collection, processing, and refining of polymetallic nodules found on the seafloor in California. It primarily explores for nickel, cobalt, copper, and manganese products. The company holds exploration and commercial rights in three polymetallic nodule contract areas in the Clarion Clipperton Zone of the Pacific Ocean. Its products are used in electric vehicles (EV), renewable energy storage markets, EV wiring, energy transmission, manganese alloy production required for steel production, and other applications.