Trilogy Metals (NYSEAMERICAN:TMQ) Stock Price Down 6% – Here’s Why

Shares of Trilogy Metals Inc. (NYSEAMERICAN:TMQ) were down 6% during mid-day trading on Friday . The company traded as low as $4.71 and last traded at $4.6150. Approximately 463,143 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 4,135,249 shares. The stock had previously closed at $4.91.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. TD Securities reissued a “hold” rating on shares of Trilogy Metals in a report on Tuesday, October 7th. Raymond James Financial upgraded shares of Trilogy Metals from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, October 7th. BMO Capital Markets reissued a “market perform” rating and issued a $5.50 price objective on shares of Trilogy Metals in a report on Friday, October 10th. Cormark raised shares of Trilogy Metals from a “hold” rating to a “moderate buy” rating in a report on Thursday, December 18th. Finally, Cowen reiterated a “hold” rating on shares of Trilogy Metals in a research note on Tuesday, October 7th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $7.75.

Trilogy Metals Stock Down 3.8%

The firm has a market cap of $808.31 million, a PE ratio of -94.30 and a beta of 1.16. The firm’s fifty day simple moving average is $4.52 and its two-hundred day simple moving average is $2.99.

Insiders Place Their Bets

In other Trilogy Metals news, Director James Gowans sold 100,000 shares of the firm’s stock in a transaction dated Thursday, October 16th. The stock was sold at an average price of $7.50, for a total transaction of $750,000.00. Following the sale, the director directly owned 234,046 shares of the company’s stock, valued at $1,755,345. This trade represents a 29.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Elaine Sanders sold 449,599 shares of the company’s stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $6.84, for a total value 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. This trade represents a 12.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,064,506 shares of company stock worth $7,275,194 in the last three months. 15.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Old West Investment Management LLC lifted its position in Trilogy Metals by 9.7% during the third quarter. Old West Investment Management LLC now owns 12,165,552 shares of the mining company’s stock valued at $25,548,000 after purchasing an additional 1,071,126 shares during the last quarter. TSP Capital Management Group LLC grew its position in Trilogy Metals by 17.8% in the second quarter. TSP Capital Management Group LLC now owns 6,152,500 shares of the mining company’s stock worth $8,306,000 after acquiring an additional 930,000 shares in the last quarter. Tidal Investments LLC increased its stake in Trilogy Metals by 33.0% during the third quarter. Tidal Investments LLC now owns 3,625,129 shares of the mining company’s stock worth $7,613,000 after acquiring an additional 899,656 shares during the last quarter. Alyeska Investment Group L.P. bought a new stake in Trilogy Metals during the third quarter worth approximately $1,050,000. Finally, Envestnet Asset Management Inc. raised its position in Trilogy Metals by 80.3% during the third quarter. Envestnet Asset Management Inc. now owns 1,013,517 shares of the mining company’s stock valued at $2,128,000 after purchasing an additional 451,437 shares during the period. 16.75% of the stock is owned by hedge funds and other institutional investors.

About Trilogy Metals

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.