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

Trilogy Metals Inc. (NYSEAMERICAN:TMQ) shares gapped up prior to trading on Monday . The stock had previously closed at $5.04, but opened at $5.22. Trilogy Metals shares last traded at $5.07, with a volume of 1,876,051 shares traded.

Analyst Ratings Changes

A number of brokerages have recently commented on TMQ. Raymond James Financial reiterated a “market perform” rating on shares of Trilogy Metals in a report on Wednesday, January 14th. BMO Capital Markets reissued a “market perform” rating and issued a $5.50 price objective on shares of Trilogy Metals in a research note on Friday, October 10th. Cantor Fitzgerald raised Trilogy Metals to a “buy” rating and set a $10.00 price target for the company in a research note on Tuesday, October 7th. Cormark upgraded Trilogy Metals from a “hold” rating to a “moderate buy” rating in a research report on Thursday, December 18th. Finally, TD Cowen reaffirmed a “hold” rating on shares of Trilogy Metals in a research note on Tuesday, October 7th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Trilogy Metals currently has a consensus rating of “Hold” and a consensus price target of $7.75.

Trilogy Metals Price Performance

The stock has a fifty day moving average price of $5.02 and a 200-day moving average price of $3.79.

Institutional Trading of Trilogy Metals

Several large investors have recently added to or reduced their stakes in the stock. Silverlake Wealth Management LLC acquired a new position in shares of Trilogy Metals during the 4th quarter valued at about $53,000. Spire Wealth Management increased its holdings in shares of Trilogy Metals by 55.1% during the 3rd quarter. Spire Wealth Management now owns 18,774 shares of the mining company’s stock worth $39,000 after buying an additional 6,669 shares during the last quarter. Pictet Asset Management Holding SA acquired a new position in Trilogy Metals in the fourth quarter valued at approximately $84,000. Choreo LLC acquired a new stake in Trilogy Metals during the fourth quarter worth $97,000. Finally, Compass Wealth Management LLC acquired a new position in shares of Trilogy Metals in the 3rd quarter valued at $63,000. 16.75% of the stock is currently owned by hedge funds and other institutional investors.

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.