Mirador Capital Partners LP Acquires 637,607 Shares of TMC the metals company Inc. $TMC

Mirador Capital Partners LP bought a new stake in shares of TMC the metals company Inc. (NASDAQ:TMC) during the third quarter, Holdings Channel.com reports. The fund bought 637,607 shares of the company’s stock, valued at approximately $2,448,000.

A number of other institutional investors also recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd purchased a new stake in TMC the metals in the fourth quarter worth about $33,000. GK Wealth Management LLC purchased a new position in TMC the metals during the third quarter valued at $29,000. Main Street Research LLC purchased a new position in TMC the metals during the first quarter valued at $47,000. Coastal Bridge Advisors LLC bought a new stake in shares of TMC the metals during the 2nd quarter valued at $44,000. Finally, Northwestern Mutual Wealth Management Co. bought a new stake in shares of TMC the metals during the 2nd quarter valued at $44,000. 4.39% of the stock is owned by institutional investors.

TMC the metals Stock Performance

Shares of NASDAQ TMC opened at $3.36 on Friday. The firm’s 50 day moving average price is $4.14 and its 200-day moving average price is $4.60. TMC the metals company Inc. has a 52-week low of $3.31 and a 52-week high of $11.35. The company has a market cap of $1.48 billion, a PE ratio of -4.60 and a beta of 1.91.

TMC the metals (NASDAQ:TMC) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.08). On average, analysts forecast that TMC the metals company Inc. will post -0.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on TMC. Zacks Research cut shares of TMC the metals from a “hold” rating to a “strong sell” rating in a research report on Tuesday. Stifel Nicolaus assumed coverage on TMC the metals in a research report on Friday, August 28th. They issued a “buy” rating and a $10.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TMC the metals in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $10.44.

TMC the metals Profile

TMC the metals company is a mineral exploration and development company focused on collecting polymetallic nodules from the seafloor. These potato-sized rocks contain nickel, copper, cobalt and manganese, metals used in rechargeable batteries, electric vehicles and other energy-transition technologies.

The company’s activities center on nodule resources in the Clarion-Clipperton Zone of the Pacific Ocean, an area between Mexico and Hawaii. TMC is developing technologies and operating plans for seafloor nodule collection, transport and processing, with the goal of producing battery metals while limiting some of the land disturbance associated with conventional mining.