Trilogy Metals (NYSEAMERICAN:TMQ) Shares Cross Above 50 Day Moving Average – Here’s Why

Shares of Trilogy Metals Inc. (NYSEAMERICAN:TMQ) crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $0.00 and traded as high as $1.48. Trilogy Metals shares last traded at $1.30, with a volume of 571,540 shares.

Trilogy Metals Stock Down 12.2 %

The stock has a market capitalization of $213.12 million, a price-to-earnings ratio of -26.00 and a beta of 1.54.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Old West Investment Management LLC lifted its stake in shares of Trilogy Metals by 252.7% during the third quarter. Old West Investment Management LLC now owns 10,929,140 shares of the mining company’s stock worth $5,465,000 after purchasing an additional 7,830,209 shares in the last quarter. Wexford Capital LP raised its holdings in shares of Trilogy Metals by 90.2% during the 3rd quarter. Wexford Capital LP now owns 4,574,292 shares of the mining company’s stock valued at $2,214,000 after buying an additional 2,169,593 shares during the period. Virtu Financial LLC raised its holdings in shares of Trilogy Metals by 85.7% during the 3rd quarter. Virtu Financial LLC now owns 133,678 shares of the mining company’s stock valued at $65,000 after buying an additional 61,683 shares during the period. Pinnbrook Capital Management LP acquired a new position in Trilogy Metals during the 4th quarter worth approximately $615,000. Finally, Sprott Inc. boosted its holdings in Trilogy Metals by 64.9% in the 4th quarter. Sprott Inc. now owns 2,094,652 shares of the mining company’s stock worth $2,430,000 after acquiring an additional 824,071 shares during the period. Hedge funds and other institutional investors 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.