BlackRock Inc. Takes Position in Trilogy Metals Inc. $TMQ

Key Points

• BlackRock purchased 489,510 shares of Trilogy Metals in the second quarter, valued at approximately $1.72 million and representing about 0.28% of the company. Institutional investors and hedge funds collectively own 16.75% of TMQ.
• Analyst sentiment has weakened, with UBS, Freedom Capital and Zacks Research downgrading the stock; the consensus rating is “Hold” with a $7.75 price target.
• TMQ opened at $3.30 and remains well below its 52-week high of $11.29. Trilogy Metals also reported a quarterly loss of $0.04 per share, missing the $0.01-per-share loss estimate.

BlackRock Inc. purchased a new position in shares of Trilogy Metals Inc. (NYSEAMERICAN:TMQ - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 489,510 shares of the mining company's stock, valued at approximately $1,718,000. BlackRock Inc. owned approximately 0.28% of Trilogy Metals as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of the business. JPMorgan Chase & Co. raised its stake in Trilogy Metals by 5,289.5% during 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 in the last quarter. XTX Topco Ltd acquired a new position in Trilogy Metals during the 2nd quarter worth approximately $115,000. Jane Street Group LLC bought a new position in Trilogy Metals in the 2nd quarter valued at approximately $154,000. Bank of America Corp DE boosted its position in Trilogy Metals by 16.5% in the second quarter. Bank of America Corp DE now owns 122,095 shares of the mining company's stock valued at $165,000 after buying an additional 17,291 shares in the last quarter. Finally, Two Sigma Investments LP boosted its position in Trilogy Metals by 52.3% in the third quarter. Two Sigma Investments LP now owns 326,721 shares of the mining company's stock valued at $686,000 after buying an additional 112,127 shares in the last quarter. 16.75% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TMQ has been the subject of a number of research reports. UBS Group cut Trilogy Metals to a "hold" rating in a research note on Wednesday, August 5th. Freedom Capital cut Trilogy Metals from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 5th. Finally, Zacks Research lowered Trilogy Metals from a "hold" rating to a "strong sell" rating in a research note on Monday, August 3rd. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Trilogy Metals has a consensus rating of "Hold" and a consensus price target of $7.75.

Trilogy Metals Stock Performance

NYSEAMERICAN:TMQ opened at $3.30 on Monday. Trilogy Metals Inc. has a fifty-two week low of $1.78 and a fifty-two week high of $11.29. The company has a 50 day simple moving average of $3.41 and a two-hundred day simple moving average of $3.81. The company has a market capitalization of $569.58 million, a PE ratio of -11.00 and a beta of 1.49.

Trilogy Metals (NYSEAMERICAN:TMQ - Get Free Report) last announced its quarterly earnings data on Wednesday, July 8th. The mining company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.03). During the same quarter in the prior year, the business earned ($0.01) earnings per share. Research analysts predict that Trilogy Metals Inc. will post -0.08 EPS for the current year.

Trilogy Metals Company Profile

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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