Arete Wealth Advisors LLC Takes Position in TMC the metals company Inc. (NASDAQ:TMC)

Posted by Defense World Staff on Jul 25th, 2023

Arete Wealth Advisors LLC bought a new stake in shares of TMC the metals company Inc. (NASDAQ:TMC – Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 12,850 shares of the company’s stock, valued at approximately $10,651,000,000.

Several other hedge funds have also recently made changes to their positions in the business. Royal Bank of Canada purchased a new stake in shares of TMC the metals during the 1st quarter valued at about $27,000. Walleye Trading LLC purchased a new stake in TMC the metals in the 1st quarter worth about $28,000. Goldman Sachs Group Inc. purchased a new stake in TMC the metals in the 1st quarter worth about $33,000. Renaissance Technologies LLC raised its position in TMC the metals by 12.2% in the 4th quarter. Renaissance Technologies LLC now owns 127,900 shares of the company’s stock worth $98,000 after purchasing an additional 13,900 shares during the period. Finally, Advisor Group Holdings Inc. raised its position in TMC the metals by 393.1% in the 1st quarter. Advisor Group Holdings Inc. now owns 24,040 shares of the company’s stock worth $62,000 after purchasing an additional 19,165 shares during the period. 49.93% of the stock is currently owned by hedge funds and other institutional investors.

TMC the metals Stock Performance

Shares of TMC stock opened at $1.38 on Tuesday. The company’s 50-day simple moving average is $1.35 and its two-hundred day simple moving average is $1.06. TMC the metals company Inc. has a one year low of $0.51 and a one year high of $3.20.

TMC the metals (NASDAQ:TMC – Get Free Report) last issued its earnings results on Thursday, May 11th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. On average, analysts anticipate that TMC the metals company Inc. will post -0.41 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Andrei Karkar bought 3,997,519 shares of the company’s stock in a transaction on Thursday, June 8th. The shares were acquired at an average cost of $0.75 per share, for a total transaction of $2,998,139.25. Following the purchase, the director now directly owns 55,953,495 shares of the company’s stock, valued at $41,965,121.25. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 31.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Wedbush increased their price objective on shares of TMC the metals from $3.00 to $4.00 in a research report on Friday, July 7th. ThinkEquity assumed coverage on shares of TMC the metals in a research report on Monday, July 10th. They issued a “buy” rating on the stock.

TMC the metals Profile

(Free Report)

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 the Clarion Clipperton Zone (CCZ) in the south-west of San Diego, California. It primarily explores for nickel, cobalt, copper, and manganese products.