3,000,000 Shares in TMC the metals company Inc. $TMC Bought by Encompass Capital Advisors LLC

Encompass Capital Advisors LLC acquired a new position in shares of TMC the metals company Inc. (NASDAQ:TMC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,000,000 shares of the company’s stock, valued at approximately $18,510,000. Encompass Capital Advisors LLC owned about 0.73% of TMC the metals as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of TMC. UBS Group AG grew its position in TMC the metals by 869.6% during the 3rd quarter. UBS Group AG now owns 630,757 shares of the company’s stock worth $4,018,000 after acquiring an additional 712,717 shares during the last quarter. Goldman Sachs Group Inc. grew its position in TMC the metals by 234.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 678,540 shares of the company’s stock worth $4,187,000 after acquiring an additional 475,464 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in shares of TMC the metals during the second quarter worth $3,133,000. Verition Fund Management LLC grew its stake in shares of TMC the metals by 120.1% in the fourth quarter. Verition Fund Management LLC now owns 817,364 shares of the company’s stock worth $5,043,000 after purchasing an additional 445,985 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in TMC the metals by 437.7% in the second quarter. Bank of America Corp DE now owns 408,854 shares of the company’s stock valued at $2,698,000 after purchasing an additional 332,813 shares during the period. Institutional investors own 4.39% of the company’s stock.

Insider Activity at TMC the metals

In related news, Director Brendan May sold 20,768 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $6.42, for a total transaction of $133,330.56. Following the sale, the director owned 193,346 shares in the company, valued at $1,241,281.32. This represents a 9.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 Down 1.5%

Shares of NASDAQ:TMC opened at $5.11 on Thursday. The firm has a market cap of $2.21 billion, a P/E ratio of -6.47 and a beta of 1.99. TMC the metals company Inc. has a 12-month low of $3.93 and a 12-month high of $11.35. The business has a fifty day simple moving average of $5.35 and a 200 day simple moving average of $6.12.

TMC the metals (NASDAQ:TMC) last released its earnings results on Thursday, May 14th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.01. As a group, equities research analysts expect that TMC the metals company Inc. will post -0.31 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Wedbush raised 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. 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. Wall Street Zen raised TMC the metals from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TMC the metals in a research report on Monday, April 20th. Finally, Maxim Group assumed coverage on TMC the metals in a research report on Thursday, June 4th. They set a “buy” rating and a $10.00 target price for the company. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $10.58.

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.