First Manhattan CO. LLC. Has $94.50 Million Stake in TMC the metals company Inc. $TMC

First Manhattan CO. LLC. decreased its stake in TMC the metals company Inc. (NASDAQ:TMC) by 3.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,315,924 shares of the company’s stock after selling 519,525 shares during the quarter. First Manhattan CO. LLC.’s holdings in TMC the metals were worth $94,499,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. NewEdge Advisors LLC acquired a new position in TMC the metals in the second quarter valued at about $28,000. Caitong International Asset Management Co. Ltd acquired a new position in TMC the metals in the fourth quarter valued at about $29,000. Sunbelt Securities Inc. acquired a new stake in shares of TMC the metals during the third quarter worth about $34,000. Farther Finance Advisors LLC raised its position in shares of TMC the metals by 465.8% during the fourth quarter. Farther Finance Advisors LLC now owns 5,686 shares of the company’s stock worth $35,000 after purchasing an additional 4,681 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in shares of TMC the metals during the second quarter worth about $48,000. Institutional investors and hedge funds own 4.39% of the company’s stock.

Insider Transactions at TMC the metals

In related news, Director Brendan May sold 20,768 shares of TMC the metals stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $6.42, for a total value of $133,330.56. Following the sale, the director owned 193,346 shares of the company’s stock, valued at approximately $1,241,281.32. This trade represents a 9.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 28.50% of the company’s stock.

Wall Street Analyst Weigh In

TMC has been the topic of a number of research analyst reports. Maxim Group initiated coverage on TMC the metals in a research report on Thursday, June 4th. They set a “buy” rating and a $10.00 price target on the stock. Wall Street Zen raised TMC the metals from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TMC the metals in a research report on Monday, April 20th. Wedbush raised their price target on TMC the metals from $8.00 to $10.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $11.75 price target on shares of TMC the metals in a research report on Tuesday, June 2nd. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $10.58.

TMC the metals Stock Performance

Shares of TMC the metals stock opened at $5.11 on Thursday. The business’s 50 day simple moving average is $5.35 and its 200 day simple moving average is $6.12. TMC the metals company Inc. has a 52-week low of $3.93 and a 52-week high of $11.35. The firm has a market cap of $2.21 billion, a PE ratio of -6.47 and a beta of 1.99.

TMC the metals (NASDAQ:TMC) last announced its earnings results on Thursday, May 14th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. As a group, equities research analysts predict that TMC the metals company Inc. will post -0.31 EPS for the current year.

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. 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.