Trilogy Metals Inc. $TMQ Stake Lessened by Tidal Investments LLC

Key Points

• Tidal Investments reduced its Trilogy Metals stake by 15.5% in the second quarter, selling 1.54 million shares and retaining 8.40 million shares worth approximately $29.5 million, or 4.86% of the company.
• Trilogy Metals reported a quarterly loss of $0.04 per share, missing the $0.01 loss analysts expected. Shares opened at $3.51, well below their 52-week high of $11.29.
• Analyst sentiment remains cautiously positive, with five Buy ratings and four Holds producing a “Moderate Buy” consensus and an average price target of $7.75.

Tidal Investments LLC cut its stake in Trilogy Metals Inc. (NYSEAMERICAN:TMQ - Free Report) by 15.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,396,279 shares of the mining company's stock after selling 1,536,918 shares during the period. Tidal Investments LLC owned 4.86% of Trilogy Metals worth $29,453,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in TMQ. Caitong International Asset Management Co. Ltd acquired a new position in Trilogy Metals during the 4th quarter worth $27,000. State of Wyoming acquired a new stake in shares of Trilogy Metals in the 4th quarter valued at about $32,000. Fore Capital LLC bought a new position in shares of Trilogy Metals during the second quarter worth about $35,000. EP Wealth Advisors LLC bought a new position in shares of Trilogy Metals during the second quarter worth about $35,000. Finally, Bank of America Corp DE acquired a new position in Trilogy Metals in the second quarter worth about $37,000. 16.75% of the stock is currently owned by institutional investors.

Trilogy Metals Stock Performance

Trilogy Metals stock opened at $3.51 on Thursday. Trilogy Metals Inc. has a 1 year low of $1.83 and a 1 year high of $11.29. The firm's 50-day moving average is $3.41 and its 200-day moving average is $3.80. The company has a market cap of $605.83 million, a P/E ratio of -11.70 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 for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.03). During the same quarter last year, the company earned ($0.01) EPS. As a group, sell-side analysts predict that Trilogy Metals Inc. will post -0.08 earnings per share for the current year.

Wall Street Analyst Weigh In

TMQ has been the topic of several research reports. Freedom Capital cut Trilogy Metals from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 5th. UBS Group lowered Trilogy Metals to a "hold" rating in a research report on Wednesday, August 5th. Finally, Zacks Research upgraded Trilogy Metals from a "strong sell" rating to a "hold" rating in a report on Monday. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $7.75.

About Trilogy Metals

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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