Mirador Capital Partners LP Invests $731,000 in TMC the metals company Inc. $TMC

Key Points

• Mirador Capital Partners LP has acquired a new position in TMC the metals company, purchasing 110,816 shares valued at approximately $731,000.
• Analysts have raised their price target for TMC, with Wedbush upgrading the rating from "neutral" to "outperform" and increasing the price objective from $6.00 to $11.00.
• Insiders have sold a total of 504,314 shares of TMC stock over the last quarter, indicating significant insider activity amidst fluctuations in share ownership.

Mirador Capital Partners LP acquired a new stake in shares of TMC the metals company Inc. (NASDAQ:TMC - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 110,816 shares of the company's stock, valued at approximately $731,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Allworth Financial LP raised its position in TMC the metals by 48.0% in the first quarter. Allworth Financial LP now owns 14,796 shares of the company's stock worth $25,000 after acquiring an additional 4,796 shares during the period. Sprott Inc. bought a new position in TMC the metals in the first quarter worth approximately $26,000. Foster Dykema Cabot & Partners LLC bought a new position in TMC the metals in the first quarter worth approximately $44,000. Abacus Wealth Partners LLC bought a new position in TMC the metals in the first quarter worth approximately $55,000. Finally, Concurrent Investment Advisors LLC bought a new position in TMC the metals in the first quarter worth approximately $58,000. Institutional investors own 4.39% of the company's stock.

TMC the metals Price Performance

NASDAQ:TMC traded up $0.12 during trading hours on Friday, hitting $5.79. 7,285,611 shares of the company were exchanged, compared to its average volume of 7,054,335. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of -15.65 and a beta of 1.64. TMC the metals company Inc. has a 52-week low of $0.72 and a 52-week high of $8.63. The company's 50 day moving average price is $5.86 and its 200-day moving average price is $4.44.

TMC the metals (NASDAQ:TMC - Get Free Report) last released its earnings results on Thursday, August 14th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.01). On average, equities analysts predict that TMC the metals company Inc. will post -0.22 earnings per share for the current year.

Wall Street Analyst Weigh In

TMC has been the subject of a number of analyst reports. HC Wainwright reissued a "buy" rating and issued a $7.25 price objective on shares of TMC the metals in a research note on Monday, August 18th. Wedbush raised shares of TMC the metals from a "neutral" rating to an "outperform" rating and lifted their price objective for the stock from $6.00 to $11.00 in a research note on Wednesday, June 25th. Finally, Zacks Research upgraded shares of TMC the metals from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 19th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, TMC the metals presently has an average rating of "Moderate Buy" and an average price target of $7.33.

Insider Activity at TMC the metals

In other TMC the metals news, Director Brendan May sold 44,204 shares of TMC the metals stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $7.38, for a total transaction of $326,225.52. Following the completion of the sale, the director directly owned 197,586 shares in the company, valued at approximately $1,458,184.68. The trade was a 18.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Anthony O'sullivan sold 250,000 shares of the business's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $5.25, for a total transaction of $1,312,500.00. Following the completion of 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. Over the last 90 days, insiders have sold 319,204 shares of company stock valued at $1,833,726. Company insiders own 27.60% of the company's stock.

TMC the metals 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.