TMC the metals (NASDAQ:TMC) Earns Buy Rating from Analysts at Alliance Global Partners

Alliance Global Partners began coverage on shares of TMC the metals (NASDAQ:TMC) in a report issued on Wednesday morning, Marketbeat reports. The firm issued a buy rating and a $3.75 price objective on the stock.

TMC the metals Price Performance

Shares of TMC opened at $1.59 on Wednesday. TMC the metals has a 12 month low of $0.72 and a 12 month high of $2.07. The stock has a fifty day moving average price of $0.96 and a 200 day moving average price of $1.04. The company has a market cap of $515.57 million, a P/E ratio of -5.13 and a beta of 1.49.

Insider Transactions at TMC the metals

In other news, Director Andrew Hall sold 66,000 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $0.93, for a total value of $61,380.00. Following the completion of the transaction, the director now owns 182,966 shares of the company’s stock, valued at approximately $170,158.38. This represents a 26.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Erika Ilves sold 217,099 shares of TMC the metals stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $1.11, for a total transaction of $240,979.89. Following the sale, the insider now owns 998,170 shares in the company, valued at approximately $1,107,968.70. This represents a 17.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 330,622 shares of company stock worth $342,754. Insiders own 30.00% of the company’s stock.

Hedge Funds Weigh In On TMC the metals

Large investors have recently bought and sold shares of the stock. Virtu Financial LLC acquired a new position in shares of TMC the metals during the third quarter valued at approximately $44,000. Tidal Investments LLC increased its position in shares of TMC the metals by 32.6% during the 3rd quarter. Tidal Investments LLC now owns 485,332 shares of the company’s stock valued at $514,000 after purchasing an additional 119,335 shares during the period. Finally, Old West Investment Management LLC raised its stake in shares of TMC the metals by 100.0% in the 3rd quarter. Old West Investment Management LLC now owns 1,593,230 shares of the company’s stock worth $1,689,000 after buying an additional 796,615 shares in the last quarter. Institutional investors and hedge funds own 4.39% of the company’s stock.

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.