Trilogy Metals (NYSEAMERICAN:TMQ) Shares Gap Up – What’s Next?

Trilogy Metals Inc. (NYSEAMERICAN:TMQ)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $4.70, but opened at $4.95. Trilogy Metals shares last traded at $4.8930, with a volume of 1,360,204 shares changing hands.

Analyst Ratings Changes

Several analysts have recently commented on the stock. BMO Capital Markets restated a “market perform” rating and issued a $5.50 target price on shares of Trilogy Metals in a research note on Friday, October 10th. Cantor Fitzgerald upgraded shares of Trilogy Metals to a “buy” rating and set a $10.00 price objective for the company in a research report on Tuesday, October 7th. Raymond James Financial raised Trilogy Metals from a “hold” rating to a “moderate buy” rating in a report on Tuesday, October 7th. Cowen reissued a “hold” rating on shares of Trilogy Metals in a research note on Tuesday, October 7th. Finally, TD Securities reissued a “hold” rating on shares of Trilogy Metals in a report on Tuesday, October 7th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $7.75.

Trilogy Metals Price Performance

The company has a market capitalization of $837.34 million, a price-to-earnings ratio of -97.90 and a beta of 1.16. The firm’s 50-day simple moving average is $4.59 and its two-hundred day simple moving average is $2.65.

Insider Transactions at Trilogy Metals

In related news, CFO Elaine Sanders sold 449,599 shares of Trilogy Metals stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $6.84, for a total transaction of $3,075,257.16. Following the completion of the transaction, the chief financial officer directly owned 3,149,561 shares of the company’s stock, valued at approximately $21,542,997.24. The trade was a 12.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Diana J. Walters sold 100,000 shares of the business’s stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $7.03, for a total value of $703,000.00. Following the sale, the director owned 51,302 shares in the company, valued at approximately $360,653.06. The trade was a 66.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,064,506 shares of company stock worth $7,275,194 over the last ninety days. 15.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Trilogy Metals

Hedge funds have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. lifted its holdings in shares of Trilogy Metals by 120.0% in the second quarter. Envestnet Asset Management Inc. now owns 562,080 shares of the mining company’s stock valued at $759,000 after purchasing an additional 306,547 shares in the last quarter. TSP Capital Management Group LLC raised its position in shares of Trilogy Metals by 17.8% during the 2nd quarter. TSP Capital Management Group LLC now owns 6,152,500 shares of the mining company’s stock worth $8,306,000 after purchasing an additional 930,000 shares during the last quarter. DLD Asset Management LP purchased a new stake in Trilogy Metals in the 1st quarter valued at approximately $388,000. Old West Investment Management LLC grew its holdings in Trilogy Metals by 61.1% during the 1st quarter. Old West Investment Management LLC now owns 12,611,879 shares of the mining company’s stock valued at $19,611,000 after buying an additional 4,781,670 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in Trilogy Metals during the first quarter worth $83,000. 16.75% of the stock is currently owned by hedge funds and other institutional investors.

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.