730,000 Shares in TMC the metals company Inc. $TMC Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC bought a new stake in TMC the metals company Inc. (NASDAQ:TMC) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 730,000 shares of the company’s stock, valued at approximately $3,409,000. Renaissance Technologies LLC owned 0.17% of TMC the metals as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. purchased a new position in shares of TMC the metals during the first quarter worth $211,000. Geode Capital Management LLC lifted its stake in TMC the metals by 79.6% during the 2nd quarter. Geode Capital Management LLC now owns 330,823 shares of the company’s stock worth $2,183,000 after acquiring an additional 146,650 shares in the last quarter. Creative Planning purchased a new position in TMC the metals during the 2nd quarter valued at about $76,000. Cetera Investment Advisers purchased a new position in TMC the metals during the 2nd quarter valued at about $168,000. Finally, Quantbot Technologies LP acquired a new position in TMC the metals in the 2nd quarter valued at about $48,000. 4.39% of the stock is currently owned by institutional investors and hedge funds.

TMC the metals Price Performance

Shares of NASDAQ TMC opened at $4.57 on Friday. The company has a market cap of $1.98 billion, a price-to-earnings ratio of -5.78 and a beta of 2.06. The stock’s 50-day moving average is $4.48 and its two-hundred day moving average is $5.35. TMC the metals company Inc. has a 1-year low of $3.40 and a 1-year high of $11.35.

TMC the metals (NASDAQ:TMC) last announced its quarterly earnings data 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. Equities research analysts anticipate that TMC the metals company Inc. will post -0.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Insider Transactions at TMC the metals

In related news, Director Brendan May sold 20,768 shares of TMC the metals stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $6.42, for a total value of $133,330.56. Following the completion of the transaction, the director owned 193,346 shares in the company, valued at $1,241,281.32. The trade was a 9.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 owned by corporate insiders.

TMC the metals Company 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.