Kirtland Hills Capital Management LLC Buys New Shares in 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, HoldingsChannel.com reports. The fund bought 192,139 shares of the company’s stock, valued at approximately $851,000.

A number of other large investors have also bought and sold shares of TMC. Geode Capital Management LLC increased its stake in TMC the metals by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 371,142 shares of the company’s stock valued at $2,288,000 after purchasing an additional 1,566 shares in the last quarter. NewEdge Advisors LLC bought a new position in shares of TMC the metals during the 2nd quarter worth about $28,000. Osterweis Capital Management Inc. bought a new position in shares of TMC the metals during the 4th quarter worth about $29,000. Farther Finance Advisors LLC grew its stake in shares of TMC the metals by 465.8% in the 4th quarter. Farther Finance Advisors LLC now owns 5,686 shares of the company’s stock valued at $35,000 after buying an additional 4,681 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of TMC the metals in the 4th quarter valued at about $29,000. 4.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TMC. Wall Street Zen upgraded TMC the metals from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings restated a “sell (d-)” rating on shares of TMC the metals in a report on Friday, July 17th. HC Wainwright reaffirmed a “buy” rating and set a $11.75 target price on shares of TMC the metals in a research report on Tuesday, June 2nd. Wedbush upped their target price 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, Maxim Group initiated coverage on TMC the metals in a report on Thursday, June 4th. They issued a “buy” rating and a $10.00 target price on the stock. Three 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 stock. Based on data from MarketBeat.com, TMC the metals currently has an average rating of “Hold” and an average price target of $10.58.

Insider Activity at TMC the metals

In other 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 value of $133,330.56. Following the transaction, the director owned 193,346 shares in the company, 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 Securities & Exchange Commission, which is available through this hyperlink. 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 company insiders.

TMC the metals Price Performance

NASDAQ:TMC opened at $4.79 on Friday. TMC the metals company Inc. has a one year low of $3.40 and a one year high of $11.35. The company has a market cap of $2.08 billion, a PE ratio of -6.56 and a beta of 2.06. The firm has a 50-day moving average of $4.21 and a 200-day moving average of $5.09.

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