Trilogy Metals (TSE:TMQ) Shares Cross Below 50 Day Moving Average – What’s Next?

Trilogy Metals Inc. (TSE:TMQ) shares passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$5.09 and traded as low as C$4.04. Trilogy Metals shares last traded at C$4.11, with a volume of 400,683 shares trading hands.

Analyst Ratings Changes

Several equities analysts have recently issued reports on TMQ shares. Raymond James Financial upgraded Trilogy Metals from a “hold” rating to a “moderate buy” rating in a research report on Monday, April 6th. National Bank Financial cut their target price on Trilogy Metals from C$9.50 to C$7.50 and set a “sector perform” rating on the stock in a research note on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$7.00.

Trilogy Metals Stock Down 2.6%

The firm’s fifty day moving average is C$5.09 and its two-hundred day moving average is C$5.72. The firm has a market cap of C$709.99 million, a price-to-earnings ratio of -13.70 and a beta of 1.50. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.11 and a quick ratio of 5.25.

Insider Buying and Selling at Trilogy Metals

In other news, Director William L. Iggiagruk Hensley sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of C$6.08, for a total value of C$304,000.00. Following the completion of the sale, the director directly owned 18,531 shares of the company’s stock, valued at approximately C$112,668.48. This represents a 72.96% decrease in their position. Corporate insiders own 17.86% of the company’s stock.

About Trilogy Metals

Trilogy Metals Inc is a metal exploration and development company which holds a 50 percent interest in Ambler Metals LLC, which has a 100 percent interest in the UKMP in northwestern Alaska. On December 19, 2019, South32 Limited, a globally diversified mining and metals company, exercised its option to form a 50/50 joint venture with Trilogy. The UKMP is located within the Ambler Mining District which is one of the richest and most-prospective known copper-dominant districts in the world. It hosts world-class polymetallic volcanogenic massive sulphide (“VMS”) deposits that contain copper, zinc, lead, gold and silver, and carbonate replacement deposits which have been found to host high-grade copper and cobalt mineralization.