Trilogy Metals Inc. (TMQ) – What Are Investment Firms Thinking About This Stock?

Shares of Trilogy Metals Inc. (NYSEAMERICAN:TMQ) have been assigned a consensus recommendation of “Moderate Buy” from the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company.

A number of analysts recently weighed in on the stock. Zacks Research raised shares of Trilogy Metals from a “strong sell” rating to a “hold” rating in a report on Monday, September 7th. UBS Group downgraded shares of Trilogy Metals to a “hold” rating in a research note on Wednesday, August 5th. Finally, Freedom Capital cut Trilogy Metals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 5th.

Trilogy Metals Price Performance

Shares of TMQ opened at $2.06 on Monday. The business has a 50-day moving average of $3.15 and a 200 day moving average of $3.59. Trilogy Metals has a fifty-two week low of $2.06 and a fifty-two week high of $7.25.

Hedge Funds Weigh In On Trilogy Metals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Electrum Group LLC purchased a new position in shares of Trilogy Metals in the second quarter valued at about $110,932,641. Old West Investment Management LLC purchased a new position in Trilogy Metals in the second quarter worth about $21,385,000. Walleye Capital LLC increased its position in shares of Trilogy Metals by 271.7% during the 1st quarter. Walleye Capital LLC now owns 945,678 shares of the mining company’s stock valued at $3,395,000 after purchasing an additional 691,267 shares during the last quarter. BlackRock Inc. purchased a new position in shares of Trilogy Metals during the 2nd quarter worth about $1,718,000. Finally, Moore Capital Management LP bought a new position in shares of Trilogy Metals during the second quarter valued at approximately $1,375,000. Hedge funds and other institutional investors own 16.75% of the company’s stock.

About Trilogy Metals

Trilogy Metals Inc is a mineral exploration and development company focused on advancing copper and other base- and precious-metal projects in Alaska. The company’s principal assets are located in the Ambler mining district, a prospective mineral region in northwestern Alaska.

Trilogy’s Upper Kobuk Mineral Projects include the Arctic copper-zinc-lead-gold-silver deposit and the Bornite copper-cobalt deposit. Through the Ambler Metals joint venture, Trilogy is pursuing exploration, resource evaluation, engineering, permitting and other development activities related to these projects.