Trilogy Metals (NYSEAMERICAN:TMQ) Stock Price Up 7.4% – Still a Buy?

Trilogy Metals Inc. (NYSEAMERICAN:TMQ)’s share price was up 7.4% during mid-day trading on Monday. The stock traded as high as $2.34 and last traded at $2.31. 1,030,305 shares traded hands during trading, a decline of 20% from the average daily volume of 1,287,485 shares. The stock had previously closed at $2.15.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TMQ. Zacks Research raised Trilogy Metals from a “strong sell” rating to a “hold” rating in a research note on Monday, September 7th. UBS Group cut Trilogy Metals to a “hold” rating in a report on Wednesday, August 5th. Finally, Freedom Capital downgraded Trilogy Metals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 5th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Trilogy Metals currently has an average rating of “Moderate Buy”.

Trilogy Metals Stock Performance

The company has a market capitalization of $417.67 million, a PE ratio of -7.97 and a beta of 1.52. The stock’s fifty day simple moving average is $2.82 and its 200-day simple moving average is $3.70.

Hedge Funds Weigh In On Trilogy Metals

A number of institutional investors have recently modified their holdings of TMQ. Electrum Group LLC purchased a new stake in Trilogy Metals in the 2nd quarter worth approximately $110,932,641. Old West Investment Management LLC purchased a new position in shares of Trilogy Metals during the 2nd quarter worth $21,385,000. Goehring & Rozencwajg Associates LLC lifted 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 purchasing an additional 319,949 shares during the period. Walleye Capital LLC boosted its holdings in shares of Trilogy Metals by 271.7% during the first quarter. Walleye Capital LLC now owns 945,678 shares of the mining company’s stock worth $3,395,000 after purchasing an additional 691,267 shares during the last quarter. Finally, BlackRock Inc. purchased a new stake in shares of Trilogy Metals in the second quarter valued at $1,718,000. 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 copper and other base- and precious-metal projects in Alaska. The company’s principal assets are located in the Ambler mining district, a prospective mineral region in northwestern Alaska.

Trilogy’s Upper Kobuk Mineral Projects include the Arctic copper-zinc-lead-gold-silver deposit and the Bornite copper-cobalt deposit. Through the Ambler Metals joint venture, Trilogy is pursuing exploration, resource evaluation, engineering, permitting and other development activities related to these projects.