Trilogy Metals (NYSEAMERICAN:TMQ) Stock Price Down 7.1% – Time to Sell?

Shares of Trilogy Metals Inc. (NYSEAMERICAN:TMQ) fell 7.1% during mid-day trading on Tuesday . The company traded as low as $5.87 and last traded at $6.0570. 4,153,826 shares traded hands during trading, a decline of 21% from the average session volume of 5,243,067 shares. The stock had previously closed at $6.52.

Analyst Upgrades and Downgrades

TMQ has been the subject of a number of recent analyst reports. Cormark raised shares of Trilogy Metals from a “hold” rating to a “moderate buy” rating in a research note on Thursday, December 18th. Raymond James Financial reaffirmed a “market perform” rating on shares of Trilogy Metals in a research report on Wednesday, January 14th. TD Cowen reaffirmed a “hold” rating on shares of Trilogy Metals in a research note on Tuesday, October 7th. Cantor Fitzgerald raised Trilogy Metals to a “buy” rating and set a $10.00 price objective on the stock in a research note on Tuesday, October 7th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $5.50 target price on shares of Trilogy Metals in a research report on Friday, October 10th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Trilogy Metals currently has an average rating of “Hold” and a consensus target price of $7.75.

Trilogy Metals Stock Down 12.6%

The company has a market cap of $1.03 billion, a price-to-earnings ratio of -120.20 and a beta of 1.17. The stock’s 50-day simple moving average is $4.93 and its 200 day simple moving average is $3.68.

Institutional Investors Weigh In On Trilogy Metals

A number of institutional investors have recently modified their holdings of TMQ. Spire Wealth Management boosted its holdings in Trilogy Metals by 55.1% during the 3rd quarter. Spire Wealth Management now owns 18,774 shares of the mining company’s stock valued at $39,000 after acquiring an additional 6,669 shares during the period. Silverlake Wealth Management LLC acquired a new stake in shares of Trilogy Metals during the fourth quarter worth about $53,000. Compass Wealth Management LLC purchased a new position in shares of Trilogy Metals in the third quarter valued at approximately $63,000. Pictet Asset Management Holding SA purchased a new position in shares of Trilogy Metals in the fourth quarter valued at approximately $84,000. Finally, Choreo LLC acquired a new position in shares of Trilogy Metals in the fourth quarter valued at approximately $97,000. 16.75% of the stock is owned by institutional investors and hedge funds.

About Trilogy Metals

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.