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April 2, 2025 – Craig Shesky, Chief Financial Officer of TMC the metals Co Inc. (NASDAQ:TMC), has reported a sale of 353,702 common shares, valued at approximately $585,518. The shares were sold at an average price of $1.6554 per share, with the transactions occurring on April 1, 2025. The stock, currently trading at $1.73, has shown strong momentum with a 56% gain over the past six months, according to InvestingPro data.
The sales were part of an automatic "sell to cover" arrangement, which was executed to cover tax withholding obligations related to the vesting of restricted stock units granted to Shesky in previous years. These transactions were not discretionary decisions by Shesky but were pre-arranged as part of the vesting process. InvestingPro analysis indicates TMC currently appears overvalued relative to its Fair Value, with analysts setting price targets between $4.00 and $4.50.
Following the sale, Shesky retains ownership of 1,145,717 shares of TMC the metals Co. The company, based in Vancouver, specializes in metal mining and is listed on the NASDAQ under the ticker TMC. With a market capitalization of $588 million and an overall Financial Health score of "FAIR" from InvestingPro, investors can access detailed analysis and 8 additional ProTips through the comprehensive Pro Research Report.
In other recent news, TMC the Metals Company reported its Q4 2024 earnings, showing a reduced net loss of $16.1 million, or $0.05 per share, which aligns with analyst expectations. This marks a significant improvement from the $33.5 million net loss in the same quarter of the previous year. The company currently holds $62 million in liquidity, which is sufficient for 12 months of operations. Additionally, TMC announced its plans to apply for U.S. exploration and commercial recovery permits under the Deep Seabed Hard Mineral Resources Act in 2025. The company is engaging with the National Oceanic and Atmospheric Administration (NOAA) to secure these permits, reflecting a strategic regulatory shift that could unlock new opportunities. TMC’s approach is partly in response to delays by the International Seabed Authority in adopting exploitation regulations. The company’s proactive steps align with the U.S. Congress’s stance on deep-sea mining and demonstrate a commitment to pursuing a predictable regulatory path. These developments indicate a growing interest in deep-sea minerals as a strategic resource for the U.S. supply chain.
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