Trilogy Metals (NYSEAMERICAN:TMQ) Shares Gap Up – Here’s Why

Trilogy Metals Inc. (NYSEAMERICAN:TMQ)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $5.17, but opened at $5.45. Trilogy Metals shares last traded at $5.3050, with a volume of 2,940,038 shares changing hands.

Analyst Ratings Changes

TMQ has been the subject of several recent analyst reports. Cantor Fitzgerald raised Trilogy Metals to a “buy” rating and set a $10.00 price objective for the company in a report on Tuesday, October 7th. BMO Capital Markets reiterated a “market perform” rating and set a $5.50 target price on shares of Trilogy Metals in a research 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. Cowen reaffirmed a “hold” rating on shares of Trilogy Metals in a report on Tuesday, October 7th. Finally, Raymond James Financial upgraded shares of Trilogy Metals from a “hold” rating to a “moderate buy” rating in a research report 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. According to MarketBeat, Trilogy Metals currently has a consensus rating of “Moderate Buy” and an average price target of $7.75.

Trilogy Metals Trading Up 2.5%

The stock has a 50 day simple moving average of $4.39 and a 200 day simple moving average of $3.28. The firm has a market capitalization of $906.67 million, a PE ratio of -106.00 and a beta of 1.17.

Insider Activity

In related 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 value 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 document filed with the Securities & Exchange Commission, which is available through this link. 15.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Trilogy Metals

A number of large investors have recently made changes to their positions in TMQ. Spire Wealth Management increased its stake in shares of Trilogy Metals by 55.1% during the third quarter. Spire Wealth Management now owns 18,774 shares of the mining company’s stock valued at $39,000 after buying an additional 6,669 shares during the period. Silverlake Wealth Management LLC bought a new stake in Trilogy Metals in the fourth quarter valued at $53,000. Bank of America Corp DE increased its position in Trilogy Metals by 16.5% during the 2nd quarter. Bank of America Corp DE now owns 122,095 shares of the mining company’s stock valued at $165,000 after purchasing an additional 17,291 shares during the period. Compass Wealth Management LLC bought a new position in Trilogy Metals in the 3rd quarter worth $63,000. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of Trilogy Metals in the 3rd quarter worth about $105,000. 16.75% of the stock is currently owned by 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.