Trilogy Metals (NYSEAMERICAN:TMQ) Trading Down 4.4% – What’s Next?

Shares of Trilogy Metals Inc. (NYSEAMERICAN:TMQ) were down 4.4% during mid-day trading on Tuesday . The stock traded as low as $4.23 and last traded at $4.2650. Approximately 706,780 shares changed hands during trading, a decline of 83% from the average daily volume of 4,193,563 shares. The stock had previously closed at $4.46.

Wall Street Analysts Forecast Growth

TMQ has been the topic of a number of research analyst reports. Raymond James Financial upgraded Trilogy Metals from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, October 7th. BMO Capital Markets restated a “market perform” rating and issued a $5.50 price objective on shares of Trilogy Metals in a report on Friday, October 10th. Cantor Fitzgerald raised shares of Trilogy Metals to a “buy” rating and set a $10.00 target price on the stock in a research report on Tuesday, October 7th. Cormark cut shares of Trilogy Metals from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, October 8th. Finally, Cowen reissued a “hold” rating on shares of Trilogy Metals in a research note on Tuesday, October 7th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Trilogy Metals currently has a consensus rating of “Hold” and a consensus price target of $7.75.

Trilogy Metals Stock Performance

The company has a market capitalization of $749.18 million, a price-to-earnings ratio of -89.10 and a beta of 1.18. The firm has a 50-day simple moving average of $4.44 and a two-hundred day simple moving average of $2.59.

Insider Activity at Trilogy Metals

In other Trilogy Metals 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 completion of the transaction, the chief financial officer owned 3,149,561 shares of the company’s stock, valued at $21,542,997.24. This trade represents a 12.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director James Gowans sold 100,000 shares of the business’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 transaction, the director owned 234,046 shares of the company’s stock, valued at approximately $1,755,345. This trade represents a 29.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 1,064,506 shares of company stock worth $7,275,194 over the last 90 days. 15.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Trilogy Metals

Institutional investors and hedge funds have recently modified their holdings of the company. Alyeska Investment Group L.P. purchased a new position in Trilogy Metals in the third quarter valued at $1,050,000. Tidal Investments LLC increased its holdings in shares of 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 acquiring an additional 899,656 shares during the last quarter. Qube Research & Technologies Ltd purchased a new position in shares of Trilogy Metals in the 3rd quarter valued at about $105,000. Millennium Management LLC raised its position in shares of Trilogy Metals by 24.8% during the 3rd quarter. Millennium Management LLC now owns 401,668 shares of the mining company’s stock worth $844,000 after acquiring an additional 79,719 shares in the last quarter. Finally, Two Sigma Investments LP lifted its stake in Trilogy Metals by 52.3% during the third quarter. Two Sigma Investments LP now owns 326,721 shares of the mining company’s stock worth $686,000 after purchasing an additional 112,127 shares during 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.