Electrum Group LLC Makes New $110.93 Million Investment in Trilogy Metals Inc. $TMQ

Electrum Group LLC acquired a new stake in shares of Trilogy Metals Inc. (NYSEAMERICAN:TMQ - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 31,604,741 shares of the mining company's stock, valued at approximately $110,932,641. Trilogy Metals comprises about 0.0% of Electrum Group LLC's investment portfolio, making the stock its 4th biggest position. Electrum Group LLC owned about 18.31% of Trilogy Metals at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Old West Investment Management LLC purchased a new stake in shares of Trilogy Metals in the 2nd quarter valued at $21,385,000. Tidal Investments LLC lifted its stake in shares of Trilogy Metals by 33.0% in the 3rd quarter. Tidal Investments LLC now owns 3,625,129 shares of the mining company's stock valued at $7,613,000 after purchasing an additional 899,656 shares in the last quarter. Walleye Capital LLC grew its stake in Trilogy Metals by 271.7% in the first quarter. Walleye Capital LLC now owns 945,678 shares of the mining company's stock worth $3,395,000 after purchasing an additional 691,267 shares in the last quarter. Alyeska Investment Group L.P. acquired a new stake in Trilogy Metals in the third quarter worth about $1,050,000. Finally, BlackRock Inc. acquired a new stake in shares of Trilogy Metals in the second quarter worth $1,718,000. Institutional investors own 16.75% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Zacks Research lowered Trilogy Metals from a "hold" rating to a "strong sell" rating in a research report on Monday, August 3rd. Freedom Capital cut Trilogy Metals from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 5th. Finally, UBS Group cut shares of Trilogy Metals to a "hold" rating in a research note on Wednesday, August 5th. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Trilogy Metals has an average rating of "Hold" and an average target price of $7.75.

Trilogy Metals Stock Performance

Shares of TMQ stock traded down $0.12 during mid-day trading on Friday, reaching $3.66. 1,173,470 shares of the company were exchanged, compared to its average volume of 3,083,051. The business's 50 day simple moving average is $3.42 and its 200 day simple moving average is $3.85. Trilogy Metals Inc. has a fifty-two week low of $1.55 and a fifty-two week high of $11.29. The company has a market capitalization of $631.72 million, a P/E ratio of -12.20 and a beta of 1.46.

Trilogy Metals (NYSEAMERICAN:TMQ - Get Free Report) last released its quarterly earnings results on Wednesday, July 8th. The mining company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.03). During the same period in the prior year, the company posted ($0.01) earnings per share. On average, analysts forecast that Trilogy Metals Inc. will post -0.05 EPS for the current year.

Trilogy Metals 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.