Old West Investment Management LLC Has $2.39 Million Stock Position in TMC the metals company Inc. (NASDAQ:TMC)

Old West Investment Management LLC grew its holdings in shares of TMC the metals company Inc. (NASDAQ:TMC - Free Report) by 168.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,135,038 shares of the company's stock after purchasing an additional 1,338,423 shares during the period. TMC the metals makes up approximately 1.0% of Old West Investment Management LLC's investment portfolio, making the stock its 29th largest holding. Old West Investment Management LLC owned 0.66% of TMC the metals worth $2,391,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Gray Wealth Management Inc. lifted its stake in TMC the metals by 59.7% in the fourth quarter. Gray Wealth Management Inc. now owns 23,700 shares of the company's stock valued at $27,000 after acquiring an additional 8,863 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new stake in shares of TMC the metals in the fourth quarter worth about $28,000. Raymond James Financial Inc. bought a new stake in shares of TMC the metals during the 4th quarter worth about $28,000. Independent Advisor Alliance bought a new position in shares of TMC the metals in the 4th quarter valued at approximately $42,000. Finally, Virtu Financial LLC acquired a new stake in TMC the metals in the 3rd quarter worth approximately $44,000. 4.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at TMC the metals

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

TMC the metals Trading Up 7.0 %

Shares of NASDAQ:TMC traded up $0.13 during trading on Thursday, hitting $1.92. 2,509,860 shares of the company were exchanged, compared to its average volume of 1,715,530. The stock has a market cap of $666.25 million, a price-to-earnings ratio of -6.19 and a beta of 1.46. TMC the metals company Inc. has a fifty-two week low of $0.72 and a fifty-two week high of $2.55. The firm has a fifty day moving average price of $1.82 and a two-hundred day moving average price of $1.32.

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

Analysts Set New Price Targets

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

TMC the metals Company 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.