Trilogy Metals (NYSEAMERICAN:TMQ) Downgraded to “Hold” Rating by Freedom Capital

Trilogy Metals (NYSEAMERICAN:TMQ) was downgraded by Freedom Capital from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

Several other research firms have also recently commented on TMQ. Zacks Research cut Trilogy Metals from a “hold” rating to a “strong sell” rating in a report on Monday. UBS Group lowered Trilogy Metals to a “hold” rating in a report on Wednesday. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $7.75.

Trilogy Metals Stock Up 2.3%

NYSEAMERICAN TMQ opened at $3.60 on Wednesday. The stock has a market capitalization of $621.36 million, a P/E ratio of -12.00 and a beta of 1.46. Trilogy Metals has a 52-week low of $1.43 and a 52-week high of $11.29. The firm has a 50-day moving average price of $3.52 and a 200 day moving average price of $4.05.

Trilogy Metals (NYSEAMERICAN:TMQ) last announced its quarterly earnings data on Wednesday, July 8th. The mining company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.03). During the same quarter in the prior year, the firm earned ($0.01) earnings per share. On average, equities research analysts expect that Trilogy Metals will post -0.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Trilogy Metals

A number of institutional investors and hedge funds have recently modified their holdings of the company. Electrum Group LLC acquired a new position in Trilogy Metals during the fourth quarter worth $136,216,000. TSP Capital Management Group LLC grew its holdings in Trilogy Metals by 0.3% in the first quarter. TSP Capital Management Group LLC now owns 6,754,500 shares of the mining company’s stock valued at $24,249,000 after purchasing an additional 23,500 shares during the last quarter. Old West Investment Management LLC purchased a new position in shares of Trilogy Metals in the second quarter valued at $21,385,000. Tidal Investments LLC raised its stake in shares of Trilogy Metals by 33.0% during the 3rd quarter. Tidal Investments LLC now owns 3,625,129 shares of the mining company’s stock worth $7,613,000 after buying an additional 899,656 shares during the last quarter. Finally, Goehring & Rozencwajg Associates LLC raised its stake in shares of Trilogy Metals by 22.7% during the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 1,728,153 shares of the mining company’s stock worth $6,221,000 after buying an additional 319,949 shares during the last quarter. 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.