Cormark Downgrades Trilogy Metals (NYSEAMERICAN:TMQ) to Hold

Key Points

• Cormark has downgraded Trilogy Metals from a "moderate buy" to a "hold" rating, reflecting concerns about the company's performance in the current market.
• Trilogy Metals shares have recently seen a trading decline, opening at $6.31, despite having a market capitalization of $1.04 billion.
• While some brokerages are maintaining or upgrading their ratings, the overall consensus on Trilogy Metals remains a "hold" with a price target of $10.00.

Trilogy Metals (NYSEAMERICAN:TMQ - Get Free Report) was downgraded by Cormark from a "moderate buy" rating to a "hold" rating in a note issued to investors on Wednesday,Zacks.com reports.

Several other brokerages also recently weighed in on TMQ. TD Securities reiterated a "hold" rating on shares of Trilogy Metals in a research report on Tuesday. Raymond James Financial upgraded shares of Trilogy Metals from a "hold" rating to a "moderate buy" rating in a report on Tuesday. Cantor Fitzgerald upgraded shares of Trilogy Metals to a "buy" rating and set a $10.00 price objective on the stock in a research report on Tuesday. Finally, Cowen reiterated a "hold" rating on shares of Trilogy Metals in a report on Tuesday. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $10.00.

Trilogy Metals Trading Down 2.9%

Shares of NYSEAMERICAN:TMQ opened at $6.31 on Wednesday. The stock has a market capitalization of $1.04 billion, a P/E ratio of -126.20 and a beta of 1.18. The stock's 50-day moving average price is $2.01 and its 200-day moving average price is $1.67. Trilogy Metals has a 12-month low of $0.49 and a 12-month high of $7.98.

Trilogy Metals (NYSEAMERICAN:TMQ - Get Free Report) last released its earnings results on Thursday, July 10th. The mining company reported ($0.01) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.01). As a group, research analysts predict that Trilogy Metals will post -0.03 EPS for the current year.

Insider Buying and Selling at Trilogy Metals

In other news, Director William L. Iggiagruk Hensley sold 50,000 shares of the stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $1.74, for a total value of $87,000.00. Following the completion of the transaction, the director owned 143,638 shares of the company's stock, valued at approximately $249,930.12. This represents a 25.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 15.20% of the company's stock.

Hedge Funds Weigh In On Trilogy Metals

A number of institutional investors have recently added to or reduced their stakes in the company. Birchbrook Inc. lifted its position in Trilogy Metals by 25.0% during the first quarter. Birchbrook Inc. now owns 50,000 shares of the mining company's stock valued at $78,000 after buying an additional 10,000 shares during the period. Virtu Financial LLC bought a new stake in Trilogy Metals during the first quarter worth about $83,000. XTX Topco Ltd bought a new stake in Trilogy Metals during the second quarter worth about $115,000. Jane Street Group LLC bought a new position in shares of Trilogy Metals during the second quarter valued at approximately $154,000. Finally, Bank of America Corp DE increased its stake in shares of Trilogy Metals by 16.5% during the second 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 in the last quarter. Institutional investors own 16.75% of the company's stock.

Trilogy Metals Company Profile

Trilogy Metals Inc, a base metals exploration company, engages in the exploration and development of mineral properties in the United States. The company explores for copper, cobalt, lead, zinc, gold, and silver properties. It principally holds interests in the Upper Kobuk mineral projects that include the Arctic, which contains polymetallic volcanogenic massive sulfide deposits; and Bornite that contains carbonate-hosted copper - cobalt deposits covering an area of approximately 448,217 acres located in the Ambler mining district in Northwest Alaska.

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