TMC the metals company Inc. $TMC Shares Bought by Amundi

Key Points

• Amundi increased its TMC stake by 625.7% in the second quarter, acquiring 276,487 additional shares for a total of 320,673 shares valued at approximately $1.42 million.
• TMC shares opened at $3.83, near the lower end of their 12-month range of $3.40 to $11.35. The company reported a quarterly loss of $0.14 per share, missing the $0.06 consensus estimate.
• Analyst sentiment remains mixed but leans positive, with an average “Moderate Buy” rating and a consensus price target of $10.44, compared with the current share price.

Amundi grew its stake in shares of TMC the metals company Inc. (NASDAQ:TMC - Free Report) by 625.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 320,673 shares of the company's stock after purchasing an additional 276,487 shares during the quarter. Amundi owned approximately 0.07% of TMC the metals worth $1,421,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in TMC. Caitong International Asset Management Co. Ltd acquired a new stake in TMC the metals in the fourth quarter worth $33,000. Money Concepts Capital Corp increased its holdings in shares of TMC the metals by 58.0% in the 1st quarter. Money Concepts Capital Corp now owns 17,377 shares of the company's stock worth $81,000 after acquiring an additional 6,377 shares during the period. Cetera Investment Advisers increased its holdings in shares of TMC the metals by 7.2% in the 1st quarter. Cetera Investment Advisers now owns 97,912 shares of the company's stock worth $457,000 after acquiring an additional 6,576 shares during the period. Swiss National Bank lifted its position in TMC the metals by 1.7% in the 1st quarter. Swiss National Bank now owns 409,100 shares of the company's stock valued at $1,910,000 after purchasing an additional 6,800 shares during the last quarter. Finally, Pictet Asset Management Holding SA lifted its position in TMC the metals by 22.9% in the 1st quarter. Pictet Asset Management Holding SA now owns 39,578 shares of the company's stock valued at $185,000 after purchasing an additional 7,375 shares during the last quarter. Institutional investors own 4.39% of the company's stock.

TMC the metals Price Performance

TMC the metals stock opened at $3.83 on Tuesday. TMC the metals company Inc. has a 12-month low of $3.40 and a 12-month high of $11.35. The stock has a market capitalization of $1.69 billion, a PE ratio of -5.25 and a beta of 2.10. The firm has a 50 day simple moving average of $4.16 and a 200-day simple moving average of $4.89.

TMC the metals (NASDAQ:TMC - Get Free Report) last announced its earnings results on Thursday, August 13th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.08). On average, analysts forecast that TMC the metals company Inc. will post -0.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on TMC shares. Stifel Nicolaus assumed coverage on shares of TMC the metals in a research note on Friday, August 28th. They issued a "buy" rating and a $10.00 price target on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of TMC the metals in a research report on Friday, July 17th. Maxim Group began coverage on TMC the metals in a report on Thursday, June 4th. They issued a "buy" rating and a $10.00 price objective for the company. Finally, HC Wainwright restated a "buy" rating and issued a $11.75 target price on shares of TMC the metals in a research report on Tuesday, June 2nd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $10.44.

TMC the metals Company Profile

The Metals Company NASDAQ: TMC is a deep-sea minerals exploration and development company focused on the potential recovery of polymetallic nodules from the ocean floor. These potato-sized nodules contain nickel, copper, cobalt and manganese, metals used in batteries, electric vehicles, renewable energy infrastructure and other industrial applications.

The company's primary exploration interests are in the Clarion-Clipperton Zone, an area of the Pacific Ocean between Mexico and Hawaii.

Want to see what other hedge funds are holding TMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TMC the metals company Inc. (NASDAQ:TMC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.