5 Best Penny Stocks to Buy in September

3. TMC the metals company Inc. (NASDAQ:TMC)

Number of Hedge Fund Holders: 11

TMC the metals company Inc. (NASDAQ:TMC) is a Vancouver, Canada-based mining concern that went public in 2021 following the merger of DeepGreen and the Sustainable Opportunities Acquisition Corporation (NYSE:SOAC).

The company is in the business of producing metals from polymetallic rocks that are integral in electric vehicles. DeepGreen had been looking into the world’s biggest depository of battery-related metals located at the Clarion Clipperton Zone (CCZ) seafloor in the Pacific Ocean near the southwestern San Diego region. TMC the metals company Inc. (NASDAQ:TMC) intends to mine nickel and other metals from the seafloor from 2024 onwards. The company just needs to get approval from the International Seabed Authority (ISA), which is expected to be issued next year. The tension between China and the US regarding the status of Taiwan, along with the conflict between Russia and Ukraine, has accelerated efforts to secure such metals.

Of the 895 hedge funds in Insider Monkey’s database, 11 funds held a stake in TMC the metals company Inc. (NASDAQ:TMC), as of Q2 2022.