Wealth Enhancement Advisory Services LLC Raises Position in TMC the metals company Inc. $TMC

Wealth Enhancement Advisory Services LLC raised its holdings in shares of TMC the metals company Inc. (NASDAQ:TMC) by 10.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,163 shares of the company’s stock after buying an additional 4,482 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in TMC the metals were worth $335,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Allworth Financial LP boosted its position in shares of TMC the metals by 48.0% in the first quarter. Allworth Financial LP now owns 14,796 shares of the company’s stock worth $25,000 after purchasing an additional 4,796 shares during the period. Sprott Inc. bought a new position in shares of TMC the metals in the first quarter worth approximately $26,000. Foster Dykema Cabot & Partners LLC bought a new position in shares of TMC the metals in the first quarter worth approximately $44,000. Abacus Wealth Partners LLC bought a new position in shares of TMC the metals in the first quarter worth approximately $55,000. Finally, Concurrent Investment Advisors LLC bought a new position in shares of TMC the metals in the first quarter worth approximately $58,000. 4.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TMC. Zacks Research upgraded shares of TMC the metals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 19th. Weiss Ratings restated a “sell (d-)” rating on shares of TMC the metals in a research report on Saturday, September 27th. Wedbush upgraded shares of TMC the metals from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $6.00 to $11.00 in a research report on Wednesday, June 25th. Finally, HC Wainwright restated a “buy” rating and set a $7.25 target price on shares of TMC the metals in a research report on Monday, August 18th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $7.33.

TMC the metals Trading Up 20.2%

Shares of TMC opened at $9.28 on Wednesday. TMC the metals company Inc. has a twelve month low of $0.72 and a twelve month high of $9.55. The company has a market cap of $3.77 billion, a P/E ratio of -25.08 and a beta of 1.70. The company’s fifty day simple moving average is $5.71 and its 200-day simple moving average is $4.87.

TMC the metals (NASDAQ:TMC) last posted its quarterly earnings results on Thursday, August 14th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.01). Analysts predict that TMC the metals company Inc. will post -0.22 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Erika Ilves sold 1,591,485 shares of the firm’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $5.77, for a total value of $9,182,868.45. Following the sale, the insider directly owned 1,145,792 shares in the company, valued at approximately $6,611,219.84. This trade represents a 58.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Anthony O’sullivan sold 250,000 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $5.25, for a total transaction of $1,312,500.00. Following the completion of the sale, the insider owned 1,125,667 shares in the company, valued at $5,909,751.75. This represents a 18.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. 27.60% 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.