First Manhattan CO. LLC. Has $20.97 Million Position in TMC the metals company Inc. (NASDAQ:TMC)

First Manhattan CO. LLC. boosted its position in TMC the metals company Inc. (NASDAQ:TMC - Free Report) by 115.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,726,800 shares of the company's stock after purchasing an additional 10,025,000 shares during the quarter. First Manhattan CO. LLC. owned about 5.78% of TMC the metals worth $20,974,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Old West Investment Management LLC boosted its stake in TMC the metals by 168.0% in the 4th quarter. Old West Investment Management LLC now owns 2,135,038 shares of the company's stock valued at $2,391,000 after purchasing an additional 1,338,423 shares during the period. Jane Street Group LLC boosted its stake in TMC the metals by 7,330.9% in the 4th quarter. Jane Street Group LLC now owns 1,345,812 shares of the company's stock valued at $1,507,000 after purchasing an additional 1,364,424 shares during the period. Tidal Investments LLC boosted its stake in TMC the metals by 32.6% in the 3rd quarter. Tidal Investments LLC now owns 485,332 shares of the company's stock valued at $514,000 after purchasing an additional 119,335 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of TMC the metals during the 4th quarter valued at $94,000. Finally, XTX Topco Ltd bought a new stake in shares of TMC the metals during the 4th quarter valued at $65,000. 4.39% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other TMC the metals news, CFO Craig Shesky sold 353,702 shares of the company's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $1.66, for a total value of $587,145.32. Following the completion of the transaction, the chief financial officer now owns 1,145,717 shares of the company's stock, valued at $1,901,890.22. This represents a 23.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 30.00% of the stock is owned by corporate insiders.

TMC the metals Price Performance

Shares of TMC stock traded up $0.07 on Friday, hitting $3.11. 4,104,913 shares of the company's stock were exchanged, compared to its average volume of 2,765,362. TMC the metals company Inc. has a 12 month low of $0.72 and a 12 month high of $3.80. The stock has a market cap of $1.08 billion, a P/E ratio of -10.03 and a beta of 1.33. The company has a 50 day moving average of $2.27 and a 200 day moving average of $1.60.

TMC the metals (NASDAQ:TMC - Get Free Report) last announced its quarterly earnings data on Thursday, March 27th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.01. The business had revenue of ($20.18) million for the quarter. Sell-side analysts predict that TMC the metals company Inc. will post -0.22 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Alliance Global Partners assumed coverage on TMC the metals in a research report on Wednesday, January 15th. They set a "buy" rating and a $3.75 target price for the company. Wedbush reiterated a "neutral" rating and set a $4.00 target price on shares of TMC the metals in a research report on Friday, March 28th.

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.