Mirador Capital Partners LP Buys 637,607 Shares of TMC the metals company Inc. $TMC

Key Points

• Mirador Capital Partners initiated a stake of 637,607 TMC shares valued at approximately $2.45 million, representing about 0.14% of the company. Institutional investors collectively own 4.39% of TMC.
• Analyst sentiment is mixed: TMC holds a “Moderate Buy” consensus rating with an average price target of $10.44, despite recent “Sell” and “Strong Sell” recommendations.
• TMC shares opened at $3.36, near their 52-week low of $3.31, after the company reported a quarterly loss of $0.14 per share—worse than the expected $0.06 loss.

Mirador Capital Partners LP bought a new stake in shares of TMC the metals company Inc. (NASDAQ:TMC - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 637,607 shares of the company's stock, valued at approximately $2,448,000. Mirador Capital Partners LP owned approximately 0.14% of TMC the metals as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of TMC. Caitong International Asset Management Co. Ltd bought a new position in shares of TMC the metals in the fourth quarter worth $33,000. GK Wealth Management LLC bought a new stake in TMC the metals during the third quarter valued at $29,000. Main Street Research LLC purchased a new position in TMC the metals during the first quarter worth about $47,000. Coastal Bridge Advisors LLC purchased a new position in TMC the metals during the second quarter worth about $44,000. Finally, Northwestern Mutual Wealth Management Co. bought a new position in TMC the metals in the 2nd quarter worth about $44,000. 4.39% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TMC has been the topic of a number of research analyst reports. Weiss Ratings reissued a "sell (d-)" rating on shares of TMC the metals in a report on Friday, July 17th. Stifel Nicolaus initiated coverage on shares of TMC the metals in a research report on Friday, August 28th. They issued a "buy" rating and a $10.00 target price for the company. Finally, Zacks Research cut TMC the metals from a "hold" rating to a "strong sell" rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, TMC the metals presently has an average rating of "Moderate Buy" and an average target price of $10.44.

TMC the metals Stock Performance

Shares of TMC the metals stock opened at $3.36 on Friday. TMC the metals company Inc. has a 52-week low of $3.31 and a 52-week high of $11.35. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of -4.60 and a beta of 1.91. The company's 50 day moving average price is $4.14 and its 200-day moving average price is $4.60.

TMC the metals (NASDAQ:TMC - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.08). As a group, equities research analysts forecast that TMC the metals company Inc. will post -0.33 earnings per share for the current fiscal year.

TMC the metals Profile

TMC the metals company is a mineral exploration and development company focused on collecting polymetallic nodules from the seafloor. These potato-sized rocks contain nickel, copper, cobalt and manganese, metals used in rechargeable batteries, electric vehicles and other energy-transition technologies.

The company's activities center on nodule resources in the Clarion-Clipperton Zone of the Pacific Ocean, an area between Mexico and Hawaii. TMC is developing technologies and operating plans for seafloor nodule collection, transport and processing, with the goal of producing battery metals while limiting some of the land disturbance associated with conventional mining.

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