Old West Investment Management LLC Has $2.39 Million Position in TMC the metals company Inc. (NASDAQ:TMC)

Old West Investment Management LLC lifted its holdings in shares of TMC the metals company Inc. (NASDAQ:TMC) by 168.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,135,038 shares of the company’s stock after buying an additional 1,338,423 shares during the period. TMC the metals makes up about 1.0% of Old West Investment Management LLC’s holdings, making the stock its 29th largest holding. Old West Investment Management LLC’s holdings in TMC the metals were worth $2,391,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Gray Wealth Management Inc. grew its stake in shares of TMC the metals by 59.7% in the fourth quarter. Gray Wealth Management Inc. now owns 23,700 shares of the company’s stock valued at $27,000 after buying an additional 8,863 shares in the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of TMC the metals in the 4th quarter valued at about $28,000. Raymond James Financial Inc. acquired a new position in shares of TMC the metals during the 4th quarter worth about $28,000. Independent Advisor Alliance bought a new stake in shares of TMC the metals in the 4th quarter valued at about $42,000. Finally, Virtu Financial LLC acquired a new stake in TMC the metals in the 3rd quarter valued at about $44,000. Institutional investors own 4.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TMC. Alliance Global Partners started coverage on TMC the metals in a research report on Wednesday, January 15th. They set a “buy” rating and a $3.75 price target on the stock. Wedbush restated a “neutral” rating and issued a $4.00 price target on shares of TMC the metals in a research note on Friday, March 28th.

Insider Transactions at TMC the metals

In other TMC the metals news, CFO Craig Shesky sold 353,702 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $1.66, for a total transaction of $587,145.32. Following the transaction, the chief financial officer now owns 1,145,717 shares in the company, valued at $1,901,890.22. This represents a 23.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 30.00% of the company’s stock.

TMC the metals Stock Performance

Shares of TMC opened at $1.83 on Friday. The firm has a market cap of $593.40 million, a P/E ratio of -5.90 and a beta of 1.52. TMC the metals company Inc. has a 52 week low of $0.72 and a 52 week high of $2.55. The firm’s 50-day simple moving average is $1.80 and its 200 day simple moving average is $1.29.

TMC the metals (NASDAQ:TMC) last announced its earnings results on Thursday, March 27th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. The firm had revenue of ($20.18) million for the quarter. As a group, equities analysts forecast that TMC the metals company Inc. will post -0.22 earnings per share for the current year.

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.