Trilogy Metals (NYSEAMERICAN:TMQ) Shares Gap Down – Time to Sell?

Trilogy Metals Inc. (NYSEAMERICAN:TMQ) gapped down prior to trading on Monday . The stock had previously closed at $4.45, but opened at $4.20. Trilogy Metals shares last traded at $4.1170, with a volume of 1,969,790 shares trading hands.

Wall Street Analysts Forecast Growth

TMQ has been the topic of a number of research reports. Cormark cut shares of Trilogy Metals from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, October 8th. TD Securities reiterated a “hold” rating on shares of Trilogy Metals in a report on Tuesday, October 7th. Cowen reiterated a “hold” rating on shares of Trilogy Metals in a report on Tuesday, October 7th. Raymond James Financial upgraded shares of Trilogy Metals from a “hold” rating to a “moderate buy” rating in a report on Tuesday, October 7th. Finally, Cantor Fitzgerald raised shares of Trilogy Metals to a “buy” rating and set a $10.00 target price for the company in a research note on Tuesday, October 7th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Trilogy Metals currently has a consensus rating of “Hold” and a consensus price target of $7.75.

Trilogy Metals Trading Down 8.2%

The company’s 50 day simple moving average is $3.54 and its 200 day simple moving average is $2.23. The stock has a market capitalization of $686.65 million, a PE ratio of -81.70 and a beta of 1.18.

Insiders Place Their Bets

In related news, CFO Elaine Sanders sold 449,599 shares of the firm’s stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $6.84, for a total value of $3,075,257.16. Following the sale, the chief financial officer directly owned 3,149,561 shares of the company’s stock, valued at approximately $21,542,997.24. This trade represents a 12.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William Beckwith Hayden sold 200,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 9th. The stock was sold at an average price of $6.61, for a total transaction of $1,322,000.00. Following the completion of the sale, the director directly owned 382,685 shares in the company, valued at $2,529,547.85. This represents a 34.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 1,064,506 shares of company stock valued at $7,275,194. 15.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Trilogy Metals

Several hedge funds have recently modified their holdings of TMQ. Spire Wealth Management lifted its position in Trilogy Metals by 55.1% during the third quarter. Spire Wealth Management now owns 18,774 shares of the mining company’s stock valued at $39,000 after buying an additional 6,669 shares in the last quarter. Compass Wealth Management LLC purchased a new stake in Trilogy Metals during the 3rd quarter worth $63,000. Birchbrook Inc. boosted its position in Trilogy Metals by 25.0% during the 1st quarter. Birchbrook Inc. now owns 50,000 shares of the mining company’s stock worth $78,000 after purchasing an additional 10,000 shares during the period. Virtu Financial LLC purchased a new stake in Trilogy Metals during the 1st quarter worth $83,000. Finally, XTX Topco Ltd purchased a new stake in Trilogy Metals during the 2nd quarter worth $115,000. 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.