Trilogy Metals (NYSEAMERICAN:TMQ) Shares Up 6.9% – What’s Next?

Trilogy Metals Inc. (NYSEAMERICAN:TMQ) shares rose 6.9% during trading on Friday . The stock traded as high as $4.31 and last traded at $4.2450. Approximately 1,230,910 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 4,201,804 shares. The stock had previously closed at $3.97.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TMQ. BMO Capital Markets restated a “market perform” rating and set a $5.50 price target on shares of Trilogy Metals in a report on Friday, October 10th. Cormark lowered shares of Trilogy Metals from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, October 8th. Cantor Fitzgerald upgraded shares of Trilogy Metals to a “buy” rating and set a $10.00 target price for the company in a research report on Tuesday, October 7th. Raymond James Financial raised shares of Trilogy Metals from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, October 7th. Finally, TD Securities reissued a “hold” rating on shares of Trilogy Metals in a research report on Tuesday, October 7th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Trilogy Metals currently has an average rating of “Hold” and an average target price of $7.75.

Trilogy Metals Price Performance

The firm has a fifty day simple moving average of $4.35 and a 200 day simple moving average of $2.54. The company has a market cap of $720.43 million, a price-to-earnings ratio of -85.90 and a beta of 1.18.

Insider Transactions at Trilogy Metals

In other Trilogy Metals news, Director William L. Iggiagruk Hensley sold 100,000 shares of the business’s stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $6.39, for a total transaction of $639,000.00. Following the completion of the transaction, the director owned 43,638 shares of the company’s stock, valued at $278,846.82. The trade was a 69.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Elaine Sanders sold 449,599 shares of Trilogy Metals stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $6.84, for a total value of $3,075,257.16. Following the completion of the transaction, the chief financial officer owned 3,149,561 shares in the company, valued at $21,542,997.24. The trade was a 12.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 1,064,506 shares of company stock worth $7,275,194. Corporate insiders own 15.20% of the company’s stock.

Institutional Trading of Trilogy Metals

A number of institutional investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. increased its holdings in Trilogy Metals by 120.0% in the second quarter. Envestnet Asset Management Inc. now owns 562,080 shares of the mining company’s stock valued at $759,000 after purchasing an additional 306,547 shares during the last quarter. TSP Capital Management Group LLC boosted its stake in Trilogy Metals by 17.8% during the 2nd quarter. TSP Capital Management Group LLC now owns 6,152,500 shares of the mining company’s stock worth $8,306,000 after acquiring an additional 930,000 shares during the last quarter. DLD Asset Management LP acquired a new stake in Trilogy Metals in the first quarter worth $388,000. Old West Investment Management LLC boosted its position in shares of Trilogy Metals by 61.1% during the first quarter. Old West Investment Management LLC now owns 12,611,879 shares of the mining company’s stock worth $19,611,000 after purchasing an additional 4,781,670 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Trilogy Metals in the 1st quarter valued at $83,000. Institutional investors and hedge funds own 16.75% of the company’s stock.

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.