Trilogy Metals Inc. (NYSEAMERICAN:TMQ) Receives $7.75 Average Price Target from Analysts

Trilogy Metals Inc. (NYSEAMERICAN:TMQ) has earned a consensus recommendation of “Hold” from the six ratings firms that are covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $7.75.

Several research analysts have recently weighed in on the stock. TD Securities reiterated a “hold” rating on shares of Trilogy Metals in a report on Tuesday, October 7th. Cantor Fitzgerald raised shares of Trilogy Metals to a “buy” rating and set a $10.00 price target on the stock in a research note on Tuesday, October 7th. Raymond James Financial reiterated a “market perform” rating on shares of Trilogy Metals in a report on Wednesday, January 14th. Cormark upgraded Trilogy Metals from a “hold” rating to a “moderate buy” rating in a report on Thursday, December 18th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $5.50 target price on shares of Trilogy Metals in a research report on Friday, October 10th.

Hedge Funds Weigh In On Trilogy Metals

Several hedge funds and other institutional investors have recently modified their holdings of the company. Old West Investment Management LLC raised its holdings in Trilogy Metals by 9.7% in the third quarter. Old West Investment Management LLC now owns 12,165,552 shares of the mining company’s stock valued at $25,548,000 after buying an additional 1,071,126 shares during the period. TSP Capital Management Group LLC grew its stake in Trilogy Metals by 17.8% during the second quarter. TSP Capital Management Group LLC now owns 6,152,500 shares of the mining company’s stock worth $8,306,000 after buying an additional 930,000 shares during the period. Tidal Investments LLC increased its position in shares of Trilogy Metals by 33.0% in the third quarter. Tidal Investments LLC now owns 3,625,129 shares of the mining company’s stock worth $7,613,000 after acquiring an additional 899,656 shares in the last quarter. Alyeska Investment Group L.P. purchased a new position in shares of Trilogy Metals in the 3rd quarter valued at $1,050,000. Finally, Envestnet Asset Management Inc. raised its stake in shares of Trilogy Metals by 80.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,013,517 shares of the mining company’s stock valued at $2,128,000 after acquiring an additional 451,437 shares during the period. 16.75% of the stock is owned by institutional investors and hedge funds.

Trilogy Metals Trading Up 5.7%

NYSEAMERICAN TMQ opened at $5.79 on Friday. The business’s 50-day moving average price is $4.67 and its 200 day moving average price is $3.51. Trilogy Metals has a twelve month low of $1.13 and a twelve month high of $11.29. The company has a market capitalization of $990.90 million, a PE ratio of -115.80 and a beta of 1.17.

Trilogy Metals Company Profile

Trilogy Metals Inc is a mineral exploration and development company focused on advancing high‐value copper, zinc, lead, gold and silver projects in northwestern Alaska. The company’s flagship asset lies within the Ambler mining district, where it has assembled over 100,000 acres of mineral rights. Through systematic exploration programs, Trilogy Metals seeks to delineate and expand polymetallic deposits in one of the world’s richest base and precious metal regions.

The centerpiece of Trilogy’s portfolio is the Upper Kobuk Mineral Projects (UKMP), which includes the Arctic copper‐zinc‐lead‐gold‐silver deposit and the Bornite copper deposit.