Trilogy Metals (NYSEAMERICAN:TMQ) Trading Down 6.8% – Should You Sell?

Trilogy Metals Inc. (NYSEAMERICAN:TMQ)’s share price was down 6.8% during mid-day trading on Monday . The company traded as low as $4.38 and last traded at $4.3450. Approximately 804,131 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 4,189,623 shares. The stock had previously closed at $4.66.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on TMQ shares. Cormark cut Trilogy Metals from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, October 8th. BMO Capital Markets reissued a “market perform” rating and issued a $5.50 price objective on shares of Trilogy Metals in a research report on Friday, October 10th. Cowen restated 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 research note on Tuesday, October 7th. Finally, Cantor Fitzgerald raised shares of Trilogy Metals to a “buy” rating and set a $10.00 price target on the stock 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $7.75.

Trilogy Metals Price Performance

The business has a 50-day simple moving average of $4.74 and a two-hundred day simple moving average of $2.73. The stock has a market cap of $762.12 million, a price-to-earnings ratio of -89.26 and a beta of 1.16.

Insiders Place Their Bets

In other Trilogy Metals news, Director James Gowans sold 100,000 shares of the firm’s stock in a transaction on Thursday, October 16th. The stock was sold at an average price of $7.50, for a total transaction of $750,000.00. Following the completion of the sale, the director owned 234,046 shares of the company’s stock, valued at $1,755,345. This trade represents a 29.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction of $1,322,000.00. Following the transaction, the director directly owned 382,685 shares of the company’s stock, valued at approximately $2,529,547.85. This trade represents a 34.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,064,506 shares of company stock worth $7,275,194 in the last quarter. Company insiders own 15.20% of the company’s stock.

Institutional Investors Weigh In On Trilogy Metals

A number of hedge funds and other institutional investors have recently modified their holdings of TMQ. Old West Investment Management LLC boosted its position in shares of Trilogy Metals by 61.1% in the first 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 during the period. TSP Capital Management Group LLC raised its stake in Trilogy Metals by 9.1% in the 3rd quarter. TSP Capital Management Group LLC now owns 6,715,000 shares of the mining company’s stock worth $14,102,000 after purchasing an additional 562,500 shares in the last quarter. Tidal Investments LLC boosted its holdings in Trilogy Metals by 33.0% in the 3rd quarter. Tidal Investments LLC now owns 3,625,129 shares of the mining company’s stock valued at $7,613,000 after purchasing an additional 899,656 shares during the period. Goehring & Rozencwajg Associates LLC grew its position in shares of Trilogy Metals by 4.6% during the 3rd quarter. Goehring & Rozencwajg Associates LLC now owns 1,338,321 shares of the mining company’s stock worth $2,845,000 after purchasing an additional 58,812 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its position in shares of Trilogy Metals by 80.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,013,517 shares of the mining company’s stock worth $2,128,000 after purchasing an additional 451,437 shares in the last quarter. 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.