Erika Ilves, chief strategy officer of TMC the metals Co Inc. (NASDAQ:TMC), recently sold 217,099 shares of the company’s common stock. The shares were sold at a price of $1.11 each, for a total transaction value of $240,979. Following this transaction, Ilves now directly holds 998,170 shares. The sale was reported in a recent SEC filing and reflects the latest insider trading activity for the company, which currently has a market capitalization of $429 million.InvestingPro data shows that TMC shares have gained over 13% in the past week, with the RSI indicating overbought conditions. The company maintains a FAIR rating of financial health, although analysts do not expect profitability this year. For deeper insights into insider trading patterns and 8 additional key ProTips, explore TMC’s comprehensive Pro Research Report, available exclusively at InvestingPro.
In other recent news, The Metals Company ( TMC ) reported its third quarter results, highlighting a net loss of $20.5 million. Despite this, the company is shifting its strategic focus towards the service business, expecting to reduce operating expenses below $5 million per quarter. The Metals Company plans to apply for a mining contract to the International Seabed Authority by June 27, 2025 and has launched a registered direct offer backed by major institutional shareholders. The company has also delayed production capital expenditures until regulations are more certain and expects to secure service contracts until the next earnings call. TMC’s pre-feasibility study for a capital lighting strategy is underway, and significant nodule processing trials are expected in 2025. These are all recent developments in the company’s strategic and financial trajectory.
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