Kirtland Hills Capital Management LLC Buys Shares of 192,139 TMC the metals company Inc. $TMC

Kirtland Hills Capital Management LLC bought a new position in shares of TMC the metals company Inc. (NASDAQ:TMC) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 192,139 shares of the company’s stock, valued at approximately $851,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in shares of TMC the metals by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 371,142 shares of the company’s stock valued at $2,288,000 after acquiring an additional 1,566 shares during the last quarter. NewEdge Advisors LLC bought a new stake in shares of TMC the metals in the second quarter worth $28,000. Osterweis Capital Management Inc. bought a new stake in shares of TMC the metals in the fourth quarter worth $29,000. Farther Finance Advisors LLC increased its holdings in TMC the metals by 465.8% in the fourth quarter. Farther Finance Advisors LLC now owns 5,686 shares of the company’s stock valued at $35,000 after purchasing an additional 4,681 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in TMC the metals in the fourth quarter valued at $29,000. 4.39% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TMC has been the topic of several recent research reports. Wall Street Zen raised TMC the metals from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Maxim Group assumed coverage on TMC the metals in a research note on Thursday, June 4th. They issued a “buy” rating and a $10.00 price target for the company. HC Wainwright restated a “buy” rating and set a $11.75 price objective on shares of TMC the metals in a research report on Tuesday, June 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TMC the metals in a research note on Friday, July 17th. Finally, Wedbush upped their target price on TMC the metals from $8.00 to $10.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $10.58.

Insider Activity at TMC the metals

In related news, Director Brendan May sold 20,768 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $6.42, for a total transaction of $133,330.56. Following the completion of the sale, the director owned 193,346 shares of the company’s stock, valued at $1,241,281.32. This trade represents a 9.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 28.50% of the stock is currently owned by insiders.

TMC the metals Stock Up 20.7%

TMC stock opened at $4.79 on Friday. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of -6.56 and a beta of 2.06. The company’s fifty day simple moving average is $4.21 and its 200 day simple moving average is $5.09. TMC the metals company Inc. has a 12-month low of $3.40 and a 12-month high of $11.35.

TMC the metals (NASDAQ:TMC) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.08). Research analysts expect that TMC the metals company Inc. will post -0.32 earnings per share 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.