5 Best Small-Cap Nickel Stocks to Buy Now

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

Number of Hedge Fund Holders: 12  

Market Capitalization as of August 19: $266 million    

TMC the metals company Inc. (NASDAQ:TMC) is a deep-sea minerals exploration firm. It primarily focuses on the exploration and development of nickel, cobalt, copper, and manganese products. These products, especially those that are nickel-based, are used in a variety of industries, including electric vehicles, renewable energy storage markets, EV wiring, and clean energy transmission. The company is based in Canada and was founded in 2019. It was formerly known as Sustainable Opportunities Acquisition Corporation. 

On August 15, TMC the metals company Inc. (NASDAQ:TMC) posted earnings for the second quarter of 2022, reporting losses per share of $0.05. The total cash on hand at the end of June was more than $46 million. 

At the end of the first quarter of 2022, 12 hedge funds in the database of Insider Monkey held stakes worth $10 million in TMC the metals company Inc. (NASDAQ:TMC), compared to 15 in the preceding quarter worth $3.5 million. Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Millennium Management is a leading shareholder in TMC the metals company Inc. (NASDAQ:TMC), with 1.7 million shares worth more than $4.6 million.