Trilogy Metals (NYSEAMERICAN:TMQ) Shares Gap Up – Here’s What Happened

Trilogy Metals Inc. (NYSEAMERICAN:TMQ) shares gapped up prior to trading on Monday . The stock had previously closed at $6.21, but opened at $7.15. Trilogy Metals shares last traded at $6.5080, with a volume of 4,844,475 shares traded.

Wall Street Analyst Weigh In

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

Trilogy Metals Price Performance

The stock’s 50 day moving average is $4.72 and its two-hundred day moving average is $3.57. The firm has a market capitalization of $1.11 billion, a P/E ratio of -130.50 and a beta of 1.17.

Institutional Investors Weigh In On Trilogy Metals

A number of institutional investors have recently made changes to their positions in TMQ. Spire Wealth Management lifted its stake in Trilogy Metals by 55.1% in the third quarter. Spire Wealth Management now owns 18,774 shares of the mining company’s stock valued at $39,000 after buying an additional 6,669 shares during the period. Silverlake Wealth Management LLC bought a new stake in shares of Trilogy Metals in the 4th quarter valued at about $53,000. Compass Wealth Management LLC bought a new stake in shares of Trilogy Metals in the 3rd quarter valued at about $63,000. Choreo LLC acquired a new stake in shares of Trilogy Metals in the 4th quarter valued at approximately $97,000. Finally, Qube Research & Technologies Ltd bought a new position in Trilogy Metals during the 3rd quarter worth approximately $105,000. 16.75% of the stock is owned by institutional investors and hedge funds.

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.