Corundum Group Inc. Purchases Shares of 10,500 TMC the metals company Inc. $TMC

Corundum Group Inc. purchased a new stake in TMC the metals company Inc. (NASDAQ:TMC) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,500 shares of the company’s stock, valued at approximately $69,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Old West Investment Management LLC increased its position in TMC the metals by 100.0% in the 1st quarter. Old West Investment Management LLC now owns 4,270,076 shares of the company’s stock valued at $7,345,000 after acquiring an additional 2,135,038 shares during the period. Baird Financial Group Inc. increased its position in TMC the metals by 35.1% in the 1st quarter. Baird Financial Group Inc. now owns 2,946,027 shares of the company’s stock valued at $5,067,000 after acquiring an additional 766,167 shares during the period. XTX Topco Ltd increased its position in TMC the metals by 193.5% in the 1st quarter. XTX Topco Ltd now owns 170,004 shares of the company’s stock valued at $292,000 after acquiring an additional 112,075 shares during the period. Goldman Sachs Group Inc. acquired a new position in TMC the metals in the 1st quarter valued at approximately $211,000. Finally, Mirador Capital Partners LP acquired a new position in TMC the metals in the 2nd quarter valued at approximately $731,000. 4.39% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on TMC shares. Wedbush upgraded shares of TMC the metals from a “neutral” rating to an “outperform” rating and upped their price target for the company from $6.00 to $11.00 in a research report on Wednesday, June 25th. Zacks Research upgraded shares of TMC the metals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of TMC the metals in a research report on Saturday, September 27th. Finally, HC Wainwright reiterated a “buy” rating and set a $7.25 price objective on shares of TMC the metals in a research report on Monday, August 18th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, TMC the metals has a consensus rating of “Hold” and a consensus target price of $7.33.

Insider Buying and Selling at TMC the metals

In related news, insider Erika Ilves sold 1,591,485 shares of the 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 transaction, the insider directly owned 1,145,792 shares of the company’s stock, valued at $6,611,219.84. This represents a 58.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Anthony O’sullivan sold 250,000 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $5.25, for a total transaction of $1,312,500.00. Following the transaction, the insider directly owned 1,125,667 shares in the company, valued at approximately $5,909,751.75. This represents a 18.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. 27.60% of the stock is owned by corporate insiders.

TMC the metals Stock Up 4.1%

TMC opened at $7.41 on Friday. TMC the metals company Inc. has a twelve month low of $0.72 and a twelve month high of $8.63. The company has a fifty day moving average of $5.65 and a 200-day moving average of $4.75. The stock has a market cap of $3.01 billion, a PE ratio of -20.03 and a beta of 1.70.

TMC the metals (NASDAQ:TMC) last posted its quarterly earnings data on Thursday, August 14th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.01). Sell-side analysts anticipate that TMC the metals company Inc. will post -0.22 EPS for the current fiscal year.

About TMC the metals

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.