Prudential Financial Inc. Makes New Investment in TMC the metals company Inc. (NASDAQ:TMC)

Prudential Financial Inc. acquired a new position in TMC the metals company Inc. (NASDAQ:TMC) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 41,600 shares of the company’s stock, valued at approximately $47,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of TMC. Gray Wealth Management Inc. grew its holdings in TMC the metals by 59.7% during the fourth quarter. Gray Wealth Management Inc. now owns 23,700 shares of the company’s stock worth $27,000 after acquiring an additional 8,863 shares during the period. Oppenheimer & Co. Inc. bought a new stake in shares of TMC the metals in the 4th quarter worth approximately $28,000. Raymond James Financial Inc. acquired a new stake in TMC the metals during the fourth quarter valued at approximately $28,000. Independent Advisor Alliance acquired a new stake in TMC the metals during the fourth quarter valued at approximately $42,000. Finally, Virtu Financial LLC bought a new position in shares of TMC the metals in the third quarter valued at $44,000. Institutional investors own 4.39% of the company’s stock.

TMC the metals Price Performance

TMC the metals stock opened at $1.95 on Friday. The company has a market cap of $678.43 million, a P/E ratio of -6.29 and a beta of 1.46. TMC the metals company Inc. has a fifty-two week low of $0.72 and a fifty-two week high of $2.55. The firm’s 50 day simple moving average is $1.83 and its 200-day simple moving average is $1.33.

TMC the metals (NASDAQ:TMC) last released its earnings results on Thursday, March 27th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. The business had revenue of ($20.18) million during the quarter. On average, analysts expect that TMC the metals company Inc. will post -0.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Craig Shesky sold 353,702 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $1.66, for a total transaction of $587,145.32. Following the transaction, the chief financial officer now directly owns 1,145,717 shares in the company, valued at $1,901,890.22. The trade was a 23.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 30.00% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on TMC. Wedbush reiterated a “neutral” rating and set a $4.00 price objective on shares of TMC the metals in a research report on Friday, March 28th. Alliance Global Partners assumed coverage on TMC the metals in a report on Wednesday, January 15th. They set a “buy” rating and a $3.75 target price for the company.

TMC the metals 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.