Trilogy Metals (NYSEAMERICAN:TMQ) Stock Price Up 11.4% – What’s Next?

Shares of Trilogy Metals Inc. (NYSEAMERICAN:TMQ) shot up 11.4% during trading on Tuesday . The stock traded as high as $5.57 and last traded at $5.5050. 2,882,083 shares traded hands during mid-day trading, a decline of 54% from the average session volume of 6,305,740 shares. The stock had previously closed at $4.94.

Analysts Set New Price Targets

Several research analysts recently weighed in on TMQ shares. Raymond James Financial restated a “market perform” rating on shares of Trilogy Metals in a report on Wednesday, January 14th. Cormark raised shares of Trilogy Metals from a “hold” rating to a “moderate buy” rating in a research report on Thursday, December 18th. TD Securities reaffirmed a “hold” rating on shares of Trilogy Metals in a report on Tuesday, October 7th. TD Cowen reaffirmed a “hold” rating on shares of Trilogy Metals in a research report on Tuesday, October 7th. Finally, Cantor Fitzgerald upgraded Trilogy Metals to a “buy” rating and set a $10.00 price target on the stock in a report on Tuesday, October 7th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Trilogy Metals has a consensus rating of “Hold” and an average target price of $7.75.

Trilogy Metals Trading Up 15.8%

The business’s 50 day simple moving average is $4.96 and its two-hundred day simple moving average is $3.75. The firm has a market capitalization of $978.92 million, a PE ratio of -114.40 and a beta of 1.18.

Institutional Investors Weigh In On Trilogy Metals

A number of large investors have recently made changes to their positions in the company. Envestnet Asset Management Inc. lifted its stake in shares of Trilogy Metals by 120.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 562,080 shares of the mining company’s stock worth $759,000 after purchasing an additional 306,547 shares during the period. TSP Capital Management Group LLC increased its holdings in Trilogy Metals by 17.8% during the second quarter. TSP Capital Management Group LLC now owns 6,152,500 shares of the mining company’s stock valued at $8,306,000 after buying an additional 930,000 shares during the last quarter. JPMorgan Chase & Co. raised its position in Trilogy Metals by 5,289.5% in the second quarter. JPMorgan Chase & Co. now owns 204,800 shares of the mining company’s stock worth $276,000 after acquiring an additional 201,000 shares during the period. XTX Topco Ltd bought a new position in Trilogy Metals in the second quarter worth approximately $115,000. Finally, DLD Asset Management LP boosted its stake in shares of Trilogy Metals by 20.0% during the 2nd quarter. DLD Asset Management LP now owns 300,000 shares of the mining company’s stock worth $405,000 after acquiring an additional 50,000 shares during the last quarter. 16.75% of the stock is currently owned by 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.