SG Americas Securities LLC Makes New Investment in TMC the metals company Inc. $TMC

Key Points

• SG Americas Securities LLC bought a new stake of 236,656 shares in TMC the metals, valued at about $1.46 million, representing roughly 0.06% of the company.
• Several other institutions made sizable moves—Jump Financial added a new ~$6.22M stake, UBS boosted holdings by 869.6% to 630,757 shares (~$4.02M), Old West increased to 1,997,238 shares (~$12.72M), BNP Paribas opened a ~$3.13M position, and Mirador raised its stake—leaving institutional investors with about 4.39% ownership.
• Analyst coverage is mixed: HC Wainwright raised its target to $11.75 with a Buy, Wedbush cut its target to $8 while keeping an Outperform, Weiss reiterated a Sell, and the consensus rating is "Hold" with an average target of $9.88.

SG Americas Securities LLC bought a new stake in TMC the metals company Inc. (NASDAQ:TMC - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 236,656 shares of the company's stock, valued at approximately $1,460,000. SG Americas Securities LLC owned about 0.06% of TMC the metals as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Jump Financial LLC purchased a new stake in shares of TMC the metals in the 2nd quarter worth about $6,216,000. UBS Group AG increased its holdings in TMC the metals by 869.6% during the 3rd quarter. UBS Group AG now owns 630,757 shares of the company's stock valued at $4,018,000 after acquiring an additional 712,717 shares in the last quarter. Old West Investment Management LLC increased its holdings in TMC the metals by 49.6% during the 3rd quarter. Old West Investment Management LLC now owns 1,997,238 shares of the company's stock valued at $12,722,000 after acquiring an additional 662,200 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in TMC the metals during the second quarter worth about $3,133,000. Finally, Mirador Capital Partners LP raised its position in TMC the metals by 306.1% during the third quarter. Mirador Capital Partners LP now owns 449,990 shares of the company's stock worth $2,866,000 after acquiring an additional 339,174 shares during the last quarter. Hedge funds and other institutional investors own 4.39% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on TMC. 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. Weiss Ratings restated a "sell (d-)" rating on shares of TMC the metals in a research report on Wednesday, January 21st. Finally, Wedbush reduced their target price on TMC the metals from $11.00 to $8.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 31st. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, TMC the metals has a consensus rating of "Hold" and an average target price of $9.88.

TMC the metals Stock Performance

NASDAQ:TMC opened at $4.59 on Tuesday. TMC the metals company Inc. has a 12-month low of $1.60 and a 12-month high of $11.35. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of -5.74 and a beta of 2.00. The company's 50-day moving average is $5.93 and its two-hundred day moving average is $6.65.

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. 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.

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