Old West Investment Management LLC Purchases 662,200 Shares of TMC the metals company Inc. $TMC

Old West Investment Management LLC raised its position in TMC the metals company Inc. (NASDAQ:TMC) by 49.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,997,238 shares of the company’s stock after purchasing an additional 662,200 shares during the period. TMC the metals accounts for 2.9% of Old West Investment Management LLC’s investment portfolio, making the stock its 11th biggest position. Old West Investment Management LLC’s holdings in TMC the metals were worth $12,722,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in TMC. Howe & Rusling Inc. raised its position in shares of TMC the metals by 31.2% in the third quarter. Howe & Rusling Inc. now owns 14,855 shares of the company’s stock worth $95,000 after buying an additional 3,530 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of TMC the metals by 183.4% during the 3rd quarter. Jones Financial Companies Lllp now owns 18,990 shares of the company’s stock worth $121,000 after acquiring an additional 12,290 shares during the last quarter. Mutual Advisors LLC purchased a new position in TMC the metals in the third quarter worth $1,390,000. Independent Advisor Alliance increased its stake in TMC the metals by 15.6% in the third quarter. Independent Advisor Alliance now owns 130,265 shares of the company’s stock valued at $830,000 after acquiring an additional 17,600 shares during the last quarter. Finally, FWG Holdings LLC purchased a new stake in TMC the metals during the third quarter valued at about $378,000. Institutional investors own 4.39% of the company’s stock.

Wall Street Analysts Forecast Growth

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

TMC the metals Stock Performance

NASDAQ:TMC opened at $6.41 on Friday. TMC the metals company Inc. has a fifty-two week low of $1.57 and a fifty-two week high of $11.35. The firm has a market cap of $2.65 billion, a PE ratio of -8.32 and a beta of 1.85. The business has a 50 day moving average price of $7.23 and a 200-day moving average price of $6.61.

TMC the metals (NASDAQ:TMC) last posted its quarterly earnings results on Thursday, November 13th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.08). Research analysts predict that TMC the metals company Inc. will post -0.22 EPS for the current year.

Insider Activity at TMC the metals

In other news, insider Anthony O’sullivan sold 50,000 shares of the stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $6.77, for a total transaction of $338,500.00. Following the completion of the sale, the insider directly owned 2,025,667 shares in the company, valued at approximately $13,713,765.59. This represents a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 27.60% of the company’s stock.

TMC the metals Company Profile

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.