Trilogy Metals Inc. (NYSEAMERICAN:TMQ) Receives $7.75 Consensus Target Price from Analysts

Shares of Trilogy Metals Inc. (NYSEAMERICAN:TMQ) have been given a consensus rating of “Moderate Buy” by the six brokerages that are covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $7.75.

TMQ has been the subject of a number of recent analyst reports. Cantor Fitzgerald raised Trilogy Metals to a “buy” rating and set a $10.00 price objective for the company in a research report on Tuesday, October 7th. Cowen reissued a “hold” rating on shares of Trilogy Metals in a report on Tuesday, October 7th. Cormark upgraded shares of Trilogy Metals from a “hold” rating to a “moderate buy” rating in a report on Thursday, December 18th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $5.50 price objective on shares of Trilogy Metals in a research report on Friday, October 10th. Finally, Raymond James Financial raised shares of Trilogy Metals from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, October 7th.

Trilogy Metals Stock Down 3.4%

Shares of TMQ opened at $4.31 on Wednesday. The company has a 50 day moving average of $4.43 and a two-hundred day moving average of $3.09. Trilogy Metals has a twelve month low of $1.06 and a twelve month high of $11.29. The company has a market cap of $737.31 million, a price-to-earnings ratio of -86.20 and a beta of 1.16.

Insider Activity

In related news, Director Diana J. Walters sold 100,000 shares of the company’s stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $7.03, for a total value of $703,000.00. Following the transaction, the director directly owned 51,302 shares of the company’s stock, valued at $360,653.06. This represents a 66.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Janice Stairs sold 50,613 shares of the business’s stock in a transaction dated Thursday, October 9th. The shares were sold at an average price of $6.56, for a total value of $332,021.28. Following the sale, the director owned 508,608 shares in the company, valued at approximately $3,336,468.48. The trade was a 9.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 1,064,506 shares of company stock valued at $7,275,194. 15.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Trilogy Metals

Institutional investors and hedge funds have recently modified their holdings of the stock. Old West Investment Management LLC grew its holdings 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 worth $25,548,000 after acquiring an additional 1,071,126 shares during the period. TSP Capital Management Group LLC boosted its position in Trilogy Metals by 17.8% in the 2nd quarter. TSP Capital Management Group LLC now owns 6,152,500 shares of the mining company’s stock worth $8,306,000 after purchasing an additional 930,000 shares in the last quarter. Tidal Investments LLC grew its stake in shares of Trilogy Metals by 33.0% during the 3rd quarter. Tidal Investments LLC now owns 3,625,129 shares of the mining company’s stock worth $7,613,000 after purchasing an additional 899,656 shares during the period. Alyeska Investment Group L.P. purchased a new position in shares of Trilogy Metals during the 3rd quarter valued at approximately $1,050,000. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Trilogy Metals by 80.3% in the 3rd 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. 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 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.