Moore Capital Management LP acquired a new stake in Trilogy Metals Inc. (NYSEAMERICAN:TMQ - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 391,599 shares of the mining company's stock, valued at approximately $1,375,000. Moore Capital Management LP owned approximately 0.23% of Trilogy Metals at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Walleye Capital LLC grew its holdings in Trilogy Metals by 271.7% during the first quarter. Walleye Capital LLC now owns 945,678 shares of the mining company's stock worth $3,395,000 after acquiring an additional 691,267 shares during the period. Electrum Group LLC purchased a new position in shares of Trilogy Metals during the second quarter valued at approximately $110,932,641. Goehring & Rozencwajg Associates LLC grew its position in shares of Trilogy Metals by 22.7% in the first quarter. Goehring & Rozencwajg Associates LLC now owns 1,728,153 shares of the mining company's stock valued at $6,221,000 after purchasing an additional 319,949 shares during the period. Old West Investment Management LLC acquired a new position in shares of Trilogy Metals during the 2nd quarter valued at about $21,385,000. Finally, Private Advisor Group LLC purchased a new position in Trilogy Metals during the first quarter worth approximately $732,000. Hedge funds and other institutional investors own 16.75% of the company's stock.
Trilogy Metals Price Performance
Shares of Trilogy Metals stock opened at $3.61 on Tuesday. Trilogy Metals Inc. has a 1-year low of $1.55 and a 1-year high of $11.29. The company has a market capitalization of $623.09 million, a PE ratio of -12.03 and a beta of 1.46. The business has a 50-day moving average of $3.42 and a 200-day moving average of $3.84.
Trilogy Metals (NYSEAMERICAN:TMQ - Get Free Report) last released its quarterly earnings results on Wednesday, July 8th. The mining company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.03). During the same period last year, the business posted ($0.01) earnings per share. On average, equities analysts expect that Trilogy Metals Inc. will post -0.05 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
TMQ has been the topic of several research analyst reports. UBS Group lowered Trilogy Metals to a "hold" rating in a research note on Wednesday, August 5th. Zacks Research downgraded Trilogy Metals from a "hold" rating to a "strong sell" rating in a research report on Monday, August 3rd. Finally, Freedom Capital lowered Trilogy Metals from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 5th. Five analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Trilogy Metals has an average rating of "Hold" and a consensus price target of $7.75.
Read Our Latest Analysis on TMQ
About Trilogy Metals
(
Free Report)
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.
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