Trilogy Metals Inc. (NYSEAMERICAN:TMQ) Receives Average Rating of “Hold” from Analysts

Shares of Trilogy Metals Inc. (NYSEAMERICAN:TMQ) have been assigned an average rating of “Hold” from the six brokerages that are currently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $7.75.

Several analysts recently weighed in on TMQ shares. TD Securities reissued a “hold” rating on shares of Trilogy Metals in a report on Tuesday, October 7th. Cantor Fitzgerald raised Trilogy Metals to a “buy” rating and set a $10.00 price target for the company in a report on Tuesday, October 7th. Raymond James Financial raised Trilogy Metals from a “hold” rating to a “moderate buy” rating in a report on Tuesday, October 7th. Cowen reissued a “hold” rating on shares of Trilogy Metals in a report on Tuesday, October 7th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $5.50 price target on shares of Trilogy Metals in a report on Friday, October 10th.

Trilogy Metals Trading Down 7.6%

Shares of NYSEAMERICAN TMQ opened at $4.11 on Tuesday. Trilogy Metals has a 12 month low of $0.55 and a 12 month high of $11.29. The stock has a 50 day moving average of $3.59 and a 200-day moving average of $2.24. The company has a market capitalization of $690.85 million, a P/E ratio of -82.20 and a beta of 1.18.

Insider Transactions at Trilogy Metals

In other Trilogy Metals news, Director William Beckwith Hayden sold 200,000 shares of Trilogy Metals stock in a transaction on Thursday, October 9th. The stock was sold at an average price of $6.61, for a total value of $1,322,000.00. Following the completion of the transaction, the director directly owned 382,685 shares of the company’s stock, valued at $2,529,547.85. The trade was a 34.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James Gowans sold 100,000 shares of Trilogy Metals stock in a transaction on Thursday, October 16th. The shares were sold at an average price of $7.50, for a total value of $750,000.00. Following the completion of the transaction, the director directly owned 234,046 shares of the company’s stock, valued at $1,755,345. This represents a 29.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 1,064,506 shares of company stock worth $7,275,194. Corporate insiders own 15.20% of the company’s stock.

Hedge Funds Weigh In On Trilogy Metals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TMQ. Old West Investment Management LLC raised its holdings in Trilogy Metals by 61.1% in the 1st quarter. Old West Investment Management LLC now owns 12,611,879 shares of the mining company’s stock valued at $19,611,000 after acquiring an additional 4,781,670 shares in the last quarter. TSP Capital Management Group LLC raised its holdings in Trilogy Metals by 17.8% in the 2nd quarter. TSP Capital Management Group LLC now owns 6,152,500 shares of the mining company’s stock valued at $8,306,000 after acquiring an additional 930,000 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Trilogy Metals by 120.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 562,080 shares of the mining company’s stock valued at $759,000 after acquiring an additional 306,547 shares in the last quarter. Bornite Capital Management LP raised its holdings in Trilogy Metals by 42.9% in the 1st quarter. Bornite Capital Management LP now owns 1,000,000 shares of the mining company’s stock valued at $1,550,000 after acquiring an additional 300,000 shares in the last quarter. Finally, DLD Asset Management LP acquired a new position in Trilogy Metals in the 1st quarter valued at $388,000. 16.75% of the stock is owned by institutional investors and hedge funds.

About Trilogy Metals

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.