Old West Investment Management LLC Purchases 1,338,423 Shares of TMC the metals company Inc. (NASDAQ:TMC)

Old West Investment Management LLC increased its holdings in shares of TMC the metals company Inc. (NASDAQ:TMC) by 168.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,135,038 shares of the company’s stock after acquiring an additional 1,338,423 shares during the period. TMC the metals comprises approximately 1.0% of Old West Investment Management LLC’s holdings, making the stock its 29th largest holding. Old West Investment Management LLC owned approximately 0.66% of TMC the metals worth $2,391,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Gray Wealth Management Inc. lifted its position in shares of TMC the metals by 59.7% during the fourth quarter. Gray Wealth Management Inc. now owns 23,700 shares of the company’s stock worth $27,000 after purchasing an additional 8,863 shares in the last quarter. Oppenheimer & Co. Inc. bought a new position in TMC the metals in the 4th quarter valued at $28,000. Raymond James Financial Inc. acquired a new stake in shares of TMC the metals in the 4th quarter valued at $28,000. Independent Advisor Alliance bought a new stake in shares of TMC the metals during the fourth quarter worth $42,000. Finally, Virtu Financial LLC acquired a new position in shares of TMC the metals during the third quarter valued at $44,000. 4.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TMC has been the subject of several recent research reports. Wedbush reissued a “neutral” rating and set a $4.00 price objective on shares of TMC the metals in a report on Friday, March 28th. Alliance Global Partners assumed coverage on shares of TMC the metals in a research note on Wednesday, January 15th. They set a “buy” rating and a $3.75 price target for the company.

Insider Activity

In related news, CFO Craig Shesky sold 353,702 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $1.66, for a total transaction of $587,145.32. Following the completion of the sale, the chief financial officer now directly owns 1,145,717 shares of the company’s stock, valued at approximately $1,901,890.22. This represents a 23.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 30.00% of the stock is owned by company insiders.

TMC the metals Stock Down 6.2 %

Shares of TMC the metals stock opened at $1.83 on Friday. TMC the metals company Inc. has a 12 month low of $0.72 and a 12 month high of $2.55. The business has a fifty day simple moving average of $1.80 and a 200 day simple moving average of $1.29. The stock has a market cap of $593.40 million, a PE ratio of -5.90 and a beta of 1.52.

TMC the metals (NASDAQ:TMC) last announced its quarterly earnings results on Thursday, March 27th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. The company had revenue of ($20.18) million during the quarter. Analysts expect that TMC the metals company Inc. will post -0.22 EPS 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.