Trilogy Metals (NYSEAMERICAN:TMQ) Shares Pass Above Fifty Day Moving Average – Time to Sell?

Trilogy Metals Inc. (NYSEAMERICAN:TMQ) shares crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $3.87 and traded as high as $3.94. Trilogy Metals shares last traded at $3.93, with a volume of 3,996,872 shares traded.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. TD Securities reaffirmed a “hold” rating on shares of Trilogy Metals in a report on Tuesday, October 7th. Cormark cut Trilogy Metals from a “moderate buy” rating to a “hold” rating in a report on Wednesday, October 8th. Cowen restated a “hold” rating on shares of Trilogy Metals in a report on Tuesday, October 7th. Cantor Fitzgerald raised Trilogy Metals to a “buy” rating and set a $10.00 price objective on the stock in a research note on Tuesday, October 7th. Finally, Raymond James Financial raised Trilogy Metals from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, October 7th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Trilogy Metals presently has an average rating of “Hold” and a consensus price target of $7.75.

Trilogy Metals Stock Down 0.3%

The firm has a 50-day moving average price of $3.87 and a 200 day moving average price of $2.35. The firm has a market capitalization of $660.59 million, a PE ratio of -78.60 and a beta of 1.18.

Insider Activity at Trilogy Metals

In other news, Director Janice Stairs sold 50,613 shares of the stock in a transaction dated Thursday, October 9th. The shares were sold at an average price of $6.56, for a total transaction of $332,021.28. Following the sale, the director owned 508,608 shares of the company’s stock, valued at approximately $3,336,468.48. This represents a 9.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William Beckwith Hayden sold 200,000 shares of the company’s stock in a transaction that occurred on Thursday, October 9th. The stock was sold at an average price of $6.61, for a total transaction of $1,322,000.00. Following the sale, the director directly owned 382,685 shares in the company, valued at approximately $2,529,547.85. The trade was a 34.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 1,064,506 shares of company stock valued at $7,275,194. 15.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TMQ. Envestnet Asset Management Inc. purchased a new stake in shares of Trilogy Metals during the 1st quarter worth $396,000. Legacy Capital Group California Inc. purchased a new position in shares of Trilogy Metals in the 1st quarter valued at about $232,000. Virtu Financial LLC acquired a new stake in shares of Trilogy Metals during the 1st quarter worth about $83,000. Bornite Capital Management LP lifted its stake in Trilogy Metals by 42.9% during the first quarter. Bornite Capital Management LP now owns 1,000,000 shares of the mining company’s stock worth $1,550,000 after purchasing an additional 300,000 shares during the last quarter. Finally, DLD Asset Management LP acquired a new position in Trilogy Metals in the first quarter valued at approximately $388,000. 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.