Trilogy Metals (NYSEAMERICAN:TMQ) Shares Pass Above 50 Day Moving Average – Here’s Why

Trilogy Metals Inc. (NYSEAMERICAN:TMQ) crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $1.48 and traded as high as $1.72. Trilogy Metals shares last traded at $1.69, with a volume of 1,069,122 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Raymond James reiterated a “market perform” rating on shares of Trilogy Metals in a research report on Monday, March 24th.

Trilogy Metals Stock Up 1.2 %

The firm has a market cap of $277.06 million, a price-to-earnings ratio of -33.80 and a beta of 1.54. The stock’s 50 day moving average is $1.48 and its 200 day moving average is $1.13.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Sprott Inc. boosted its position in shares of Trilogy Metals by 64.9% during the 4th quarter. Sprott Inc. now owns 2,094,652 shares of the mining company’s stock valued at $2,430,000 after purchasing an additional 824,071 shares in the last quarter. Bornite Capital Management LP bought a new stake in Trilogy Metals during the fourth quarter worth approximately $812,000. Virtu Financial LLC grew its position in Trilogy Metals by 85.7% in the third quarter. Virtu Financial LLC now owns 133,678 shares of the mining company’s stock worth $65,000 after buying an additional 61,683 shares during the last quarter. Pinnbrook Capital Management LP bought a new position in shares of Trilogy Metals in the fourth quarter valued at $615,000. Finally, Two Sigma Investments LP acquired a new stake in shares of Trilogy Metals during the 4th quarter valued at $416,000. 16.75% of the stock is owned by institutional investors and hedge funds.

Trilogy Metals Company Profile

Trilogy Metals Inc, a base metals exploration company, engages in the exploration and development of mineral properties in the United States. The company explores for copper, cobalt, lead, zinc, gold, and silver properties. It principally holds interests in the Upper Kobuk mineral projects that include the Arctic, which contains polymetallic volcanogenic massive sulfide deposits; and Bornite that contains carbonate-hosted copper – cobalt deposits covering an area of approximately 448,217 acres located in the Ambler mining district in Northwest Alaska.