Insider Selling: Trilogy Metals (NYSEAMERICAN:TMQ) Director Sells 100,000 Shares of Stock

Key Points

• Trilogy Metals Director William Iggiagruk Hensley sold 100,000 shares of stock at an average price of $6.39, resulting in a 69.62% decrease in ownership.
• The stock has a market cap of $974.36 million and has traded between a twelve-month low of $0.49 and a high of $7.98.
• Several analysts recently issued ratings for TMQ, with Cantor Fitzgerald upgrading the stock to a "buy" rating and setting a price target of $10.00.

Trilogy Metals Inc. (NYSEAMERICAN:TMQ - Get Free Report) Director William Iggiagruk Hensley sold 100,000 shares of Trilogy Metals stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $6.39, for a total transaction of $639,000.00. Following the completion of the sale, the director owned 43,638 shares of the company's stock, valued at $278,846.82. This trade represents a 69.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Trilogy Metals Stock Performance

TMQ stock traded down $0.62 during trading on Friday, reaching $5.93. The company had a trading volume of 35,147,898 shares, compared to its average volume of 2,396,924. The firm has a 50-day simple moving average of $2.20 and a 200-day simple moving average of $1.73. The company has a market cap of $974.36 million, a price-to-earnings ratio of -118.60 and a beta of 1.18. Trilogy Metals Inc. has a twelve month low of $0.49 and a twelve 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) EPS for the quarter, hitting analysts' consensus estimates of ($0.01). Sell-side analysts expect that Trilogy Metals Inc. will post -0.03 earnings per share for the current year.

Hedge Funds Weigh In On Trilogy Metals

Several institutional investors and hedge funds have recently bought and sold shares of TMQ. Old West Investment Management LLC boosted its holdings in Trilogy Metals by 61.1% in the 1st quarter. Old West Investment Management LLC now owns 12,611,879 shares of the mining company's stock valued at $19,611,000 after purchasing an additional 4,781,670 shares during the last quarter. TSP Capital Management Group LLC lifted its position in Trilogy Metals by 17.8% in the second quarter. TSP Capital Management Group LLC now owns 6,152,500 shares of the mining company's stock valued at $8,306,000 after buying an additional 930,000 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in Trilogy Metals by 120.0% in the second quarter. Envestnet Asset Management Inc. now owns 562,080 shares of the mining company's stock valued at $759,000 after buying an additional 306,547 shares during the last quarter. Bornite Capital Management LP lifted its position in Trilogy Metals by 42.9% in the first quarter. Bornite Capital Management LP now owns 1,000,000 shares of the mining company's stock valued at $1,550,000 after buying an additional 300,000 shares during the last quarter. Finally, DLD Asset Management LP acquired a new position in Trilogy Metals in the first quarter valued at about $388,000. 16.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on TMQ. Cantor Fitzgerald raised shares of Trilogy Metals to a "buy" rating and set a $10.00 price target for the company in a research report on Tuesday. TD Securities reissued a "hold" rating on shares of Trilogy Metals in a report on Tuesday. Cowen reaffirmed a "hold" rating on shares of Trilogy Metals in a report on Tuesday. Cormark cut Trilogy Metals from a "moderate buy" rating to a "hold" rating in a report on Wednesday. Finally, Raymond James Financial raised Trilogy Metals from a "hold" rating to a "moderate buy" rating in a research note on Tuesday. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Trilogy Metals has an average rating of "Hold" and a consensus price target of $7.75.

About Trilogy Metals

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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