Foundations Investment Advisors LLC Invests $1.23 Million in TMC the metals company Inc. $TMC

Foundations Investment Advisors LLC acquired a new position in TMC the metals company Inc. (NASDAQ:TMC) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 198,739 shares of the company’s stock, valued at approximately $1,226,000.

Other large investors have also recently modified their holdings of the company. SG Americas Securities LLC purchased a new position in shares of TMC the metals in the fourth quarter worth about $1,460,000. Quantbot Technologies LP increased its holdings in shares of TMC the metals by 2,615.8% in the third quarter. Quantbot Technologies LP now owns 195,971 shares of the company’s stock worth $1,248,000 after buying an additional 188,755 shares during the period. Mutual Advisors LLC purchased a new position in shares of TMC the metals in the third quarter worth about $1,390,000. Old West Investment Management LLC increased its holdings in shares of TMC the metals by 49.6% in the third quarter. Old West Investment Management LLC now owns 1,997,238 shares of the company’s stock worth $12,722,000 after buying an additional 662,200 shares during the period. Finally, GSA Capital Partners LLP increased its holdings in shares of TMC the metals by 123.8% in the fourth quarter. GSA Capital Partners LLP now owns 220,510 shares of the company’s stock worth $1,361,000 after buying an additional 121,961 shares during the period. Hedge funds and other institutional investors own 4.39% of the company’s stock.

Wall Street Analysts Forecast Growth

TMC has been the topic of several analyst reports. Wall Street Zen upgraded TMC the metals from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Wedbush lifted their price objective on TMC the metals from $8.00 to $10.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of TMC the metals in a research note on Monday, April 20th. Two investment 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, TMC the metals presently has an average rating of “Hold” and an average price target of $10.88.

TMC the metals Price Performance

Shares of NASDAQ:TMC opened at $6.05 on Friday. TMC the metals company Inc. has a 1 year low of $3.93 and a 1 year high of $11.35. The company has a market cap of $2.62 billion, a PE ratio of -7.66 and a beta of 1.97. The stock’s 50-day moving average is $5.14 and its 200 day moving average is $6.11.

TMC the metals (NASDAQ:TMC) last announced its quarterly 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. Analysts expect that TMC the metals company Inc. will post -0.31 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. 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.