Erika Ilves, Chief Strategy Officer of TMC the metals Co Inc. (NASDAQ:TMC), has recently sold 217,099 common shares of the company. The shares were sold at a price of $1.11 each, amounting to a total transaction value of $240,979. Following this transaction, Ilves now holds 998,170 shares directly. 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 TMC's stock has gained over 13% in the past week, with the RSI indicating overbought conditions. The company maintains a FAIR financial health score, though analysts don't 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 on InvestingPro.
In other recent news, The Metals Company (TMC) has reported its Q3 results, highlighting a net loss of $20.5 million. Despite this, the company is shifting its strategic focus towards a services business, expecting to reduce its operating expenses below $5 million per quarter. The Metals Company plans to submit its exploitation contract application to the International Seabed Authority by June 27, 2025, and has initiated a registered direct offering backed by major institutional shareholders. The company has also delayed capital expenditures on production until regulations are more certain and expects to secure services contracts by the next earnings call. TMC's pre-feasibility study for a capital-light strategy is underway, with significant nodule processing trials anticipated in 2025. These are all recent developments in the company's strategic and financial trajectory.
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