Swiss National Bank Invests $2.94 Million in TMC the metals company Inc. $TMC

Key Points

• Swiss National Bank bought a new stake of 445,500 shares of TMC (~$2.94 million), representing about 0.12% of the company at the end of the quarter.
• Insider selling has been significant: Erika Ilves sold 1,591,485 shares for roughly $9.18 million (a 58.1% reduction), and insiders sold 1,691,485 shares worth about $9.85 million over the last 90 days, with insiders now owning 27.6% of the stock.
• TMC has a market cap of $3.23 billion, recently reported an EPS miss (‑$0.14 vs. consensus ‑$0.06), and carries a consensus "Hold" rating with an average price target of $7.42; its 12‑month range is $0.72–$11.35.

Swiss National Bank purchased a new stake in shares of TMC the metals company Inc. (NASDAQ:TMC - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 445,500 shares of the company's stock, valued at approximately $2,940,000. Swiss National Bank owned approximately 0.12% of TMC the metals at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Old West Investment Management LLC lifted its stake in shares of TMC the metals by 100.0% in the first quarter. Old West Investment Management LLC now owns 4,270,076 shares of the company's stock worth $7,345,000 after buying an additional 2,135,038 shares in the last quarter. Baird Financial Group Inc. boosted its stake in TMC the metals by 35.1% during the 1st quarter. Baird Financial Group Inc. now owns 2,946,027 shares of the company's stock valued at $5,067,000 after purchasing an additional 766,167 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of TMC the metals by 79.6% in the 2nd quarter. Geode Capital Management LLC now owns 330,823 shares of the company's stock worth $2,183,000 after purchasing an additional 146,650 shares in the last quarter. Mission Wealth Management LP purchased a new position in shares of TMC the metals in the second quarter worth $1,980,000. Finally, XTX Topco Ltd lifted its holdings in shares of TMC the metals by 193.5% during the first quarter. XTX Topco Ltd now owns 170,004 shares of the company's stock valued at $292,000 after purchasing an additional 112,075 shares in the last quarter. Institutional investors own 4.39% of the company's stock.

Insider Activity at TMC the metals

In other TMC the metals news, insider Erika Ilves sold 1,591,485 shares of TMC the metals stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $5.77, for a total transaction of $9,182,868.45. Following the completion of the sale, the insider owned 1,145,792 shares of the company's stock, valued at approximately $6,611,219.84. The trade was a 58.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Anthony O'sullivan sold 50,000 shares of the stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $6.77, for a total value of $338,500.00. Following the completion of the transaction, the insider directly owned 2,025,667 shares in the company, valued at approximately $13,713,765.59. This trade represents a 2.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 1,691,485 shares of company stock worth $9,846,868 over the last 90 days. 27.60% of the stock is currently owned by company insiders.

TMC the metals Stock Up 1.0%

Shares of TMC opened at $7.80 on Friday. The stock's fifty day simple moving average is $6.95 and its 200-day simple moving average is $6.14. The firm has a market capitalization of $3.23 billion, a PE ratio of -10.13 and a beta of 1.82. TMC the metals company Inc. has a 12-month low of $0.72 and a 12-month high of $11.35.

TMC the metals (NASDAQ:TMC - Get Free Report) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.08). Analysts anticipate that TMC the metals company Inc. will post -0.22 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on TMC. HC Wainwright lifted their price objective on TMC the metals from $7.25 to $7.50 and gave the stock a "buy" rating in a report on Friday, November 14th. Weiss Ratings reissued a "sell (d-)" rating on shares of TMC the metals in a report on Wednesday, October 8th. Finally, Zacks Research upgraded shares of TMC the metals from a "strong sell" rating to a "hold" rating in a report on Thursday, November 13th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, TMC the metals has a consensus rating of "Hold" and an average price target of $7.42.

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.

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