Corundum Group Inc. Acquires Shares of 10,500 TMC the metals company Inc. $TMC

Corundum Group Inc. acquired a new stake in TMC the metals company Inc. (NASDAQ:TMC) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 10,500 shares of the company’s stock, valued at approximately $69,000.

Other institutional investors have also recently bought and sold shares of the company. Goldman Sachs Group Inc. bought a new stake in TMC the metals in the 1st quarter valued at about $211,000. Baird Financial Group Inc. boosted its holdings in TMC the metals by 35.1% in the 1st quarter. Baird Financial Group Inc. now owns 2,946,027 shares of the company’s stock valued at $5,067,000 after purchasing an additional 766,167 shares during the period. Old West Investment Management LLC boosted its holdings in TMC the metals by 100.0% in the 1st quarter. Old West Investment Management LLC now owns 4,270,076 shares of the company’s stock valued at $7,345,000 after purchasing an additional 2,135,038 shares during the period. Mirador Capital Partners LP bought a new stake in TMC the metals in the 2nd quarter valued at about $731,000. Finally, Parallel Advisors LLC bought a new stake in TMC the metals in the 1st quarter valued at about $61,000. Institutional investors own 4.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TMC. Zacks Research raised shares of TMC the metals from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 19th. HC Wainwright reaffirmed a “buy” rating and set a $7.25 price target on shares of TMC the metals in a report on Monday, August 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TMC the metals in a report on Saturday, September 27th. Finally, Wedbush raised shares of TMC the metals from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $6.00 to $11.00 in a report on Wednesday, June 25th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $7.33.

Insider Buying and Selling

In related news, insider Erika Ilves sold 1,591,485 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $5.77, for a total transaction of $9,182,868.45. Following the completion of the transaction, the insider directly owned 1,145,792 shares in the company, valued at $6,611,219.84. This represents a 58.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Anthony O’sullivan sold 250,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $5.25, for a total transaction of $1,312,500.00. Following the transaction, the insider owned 1,125,667 shares of the company’s stock, valued at approximately $5,909,751.75. This represents a 18.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. 27.60% of the stock is owned by corporate insiders.

TMC the metals Trading Up 4.1%

Shares of TMC the metals stock opened at $7.41 on Friday. The company has a 50 day moving average of $5.65 and a 200-day moving average of $4.75. TMC the metals company Inc. has a 1-year low of $0.72 and a 1-year high of $8.63. The company has a market cap of $3.01 billion, a PE ratio of -20.03 and a beta of 1.70.

TMC the metals (NASDAQ:TMC) last released its quarterly earnings data on Thursday, August 14th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). Research analysts forecast that TMC the metals company Inc. will post -0.22 earnings per share for the current 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.