Trilogy Metals (NYSEAMERICAN:TMQ) Issues Earnings Results, Misses Estimates By $0.03 EPS

Trilogy Metals (NYSEAMERICAN:TMQ) issued its quarterly earnings data on Wednesday. The mining company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.03), FiscalAI reports.

Trilogy Metals Stock Down 3.9%

Shares of NYSEAMERICAN:TMQ opened at $3.23 on Wednesday. The business’s 50 day moving average is $4.01 and its 200 day moving average is $4.32. Trilogy Metals has a 12-month low of $1.33 and a 12-month high of $11.29. The stock has a market cap of $557.34 million, a price-to-earnings ratio of -11.96 and a beta of 1.43.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Raymond James Financial raised shares of Trilogy Metals from a “market perform” rating to an “outperform” rating in a report on Monday, April 6th. Freedom Capital upgraded shares of Trilogy Metals to a “strong-buy” rating in a report on Thursday, March 19th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $7.75.

Insider Activity

In related news, Director William L. Iggiagruk Hensley sold 50,000 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $4.44, for a total transaction of $222,000.00. Following the transaction, the director directly owned 18,531 shares in the company, valued at approximately $82,277.64. The trade was a 72.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 14.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Trilogy Metals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC increased its holdings in Trilogy Metals by 64.8% during the fourth quarter. Virtu Financial LLC now owns 21,207 shares of the mining company’s stock worth $91,000 after buying an additional 8,337 shares during the last quarter. Mackenzie Financial Corp purchased a new stake in Trilogy Metals during the fourth quarter valued at about $416,000. Janus Henderson Group PLC purchased a new stake in Trilogy Metals during the fourth quarter valued at about $223,000. Engineers Gate Manager LP bought a new position in Trilogy Metals during the fourth quarter worth about $89,000. Finally, Jump Financial LLC bought a new stake in shares of Trilogy Metals in the fourth quarter valued at approximately $60,000. 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.