Trilogy Metals (NYSEAMERICAN:TMQ) Shares Up 9.1% – Should You Buy?

Trilogy Metals Inc. (NYSEAMERICAN:TMQ)’s share price rose 9.1% during trading on Wednesday . The company traded as high as $3.88 and last traded at $3.9150. Approximately 2,103,599 shares traded hands during trading, a decline of 56% from the average daily volume of 4,788,653 shares. The stock had previously closed at $3.59.

Analyst Upgrades and Downgrades

TMQ has been the topic of several research analyst reports. Freedom Capital upgraded Trilogy Metals to a “strong-buy” rating in a research note on Thursday, March 19th. Raymond James Financial reissued 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 research note on Thursday, December 18th. TD Cowen raised Trilogy Metals from a “hold” rating to a “buy” rating in a report on Friday, February 20th. Finally, TD Securities raised shares of Trilogy Metals from a “hold” rating to a “buy” rating in a research report on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $7.75.

Trilogy Metals Price Performance

The stock has a market capitalization of $660.00 million, a price-to-earnings ratio of -15.30 and a beta of 1.21. The company’s 50-day simple moving average is $4.39 and its 200-day simple moving average is $4.42.

Insider Buying and Selling at Trilogy Metals

In related news, Director William L. Iggiagruk Hensley sold 25,107 shares of Trilogy Metals stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $4.40, for a total transaction of $110,470.80. Following the completion of the sale, the director directly owned 18,531 shares of the company’s stock, valued at approximately $81,536.40. This trade represents a 57.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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. TSP Capital Management Group LLC boosted its position in shares of Trilogy Metals by 9.1% during 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 acquiring an additional 562,500 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Trilogy Metals by 80.3% in the third 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 last quarter. Old West Investment Management LLC raised its position in Trilogy Metals by 9.7% during 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 purchasing an additional 1,071,126 shares in the last quarter. GAM Holding AG bought a new stake in Trilogy Metals during the third quarter worth $420,000. Finally, Compass Wealth Management LLC bought a new stake in Trilogy Metals during the third quarter worth $63,000. Institutional investors and hedge funds own 16.75% of the company’s stock.

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.