Trilogy Metals (NYSEAMERICAN:TMQ) Stock Price Crosses Below Fifty Day Moving Average - Here's What Happened

Key Points

• Trilogy Metals shares fell below their 50-day moving average of $3.34, reaching $2.30 before closing at $2.45 on trading volume of 1.22 million shares.
• Analyst sentiment remains moderately positive, with four Buy ratings and three Holds; however, recent firms including UBS Group and Freedom Capital downgraded the stock to Hold.
• Institutional and hedge-fund ownership stands at 16.75%, with several investors increasing their positions and Electrum Group and Old West Investment Management establishing new stakes.

Trilogy Metals Inc. (NYSEAMERICAN:TMQ - Get Free Report)'s share price passed below its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $3.34 and traded as low as $2.30. Trilogy Metals shares last traded at $2.45, with a volume of 1,222,216 shares changing hands.

Analyst Upgrades and Downgrades

TMQ has been the subject of a number of analyst reports. Zacks Research upgraded Trilogy Metals from a "strong sell" rating to a "hold" rating in a research report on Monday, September 7th. UBS Group cut Trilogy Metals to a "hold" rating in a research note on Wednesday, August 5th. Finally, Freedom Capital lowered Trilogy Metals from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 5th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy".

Trilogy Metals Price Performance

The firm's fifty day moving average price is $3.34 and its 200-day moving average price is $3.65. The firm has a market capitalization of $442.98 million, a P/E ratio of -8.45 and a beta of 1.49.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Electrum Group LLC bought a new position in shares of Trilogy Metals in the second quarter valued at $110,932,641. TSP Capital Management Group LLC boosted its stake in shares of Trilogy Metals by 0.3% during the 1st quarter. TSP Capital Management Group LLC now owns 6,754,500 shares of the mining company's stock worth $24,249,000 after acquiring an additional 23,500 shares in the last quarter. Old West Investment Management LLC acquired a new position in shares of Trilogy Metals in the 2nd quarter worth $21,385,000. Goehring & Rozencwajg Associates LLC grew its holdings in shares of Trilogy Metals by 22.7% in the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 1,728,153 shares of the mining company's stock worth $6,221,000 after acquiring an additional 319,949 shares during the last quarter. Finally, Walleye Capital LLC grew its holdings in shares of Trilogy Metals by 271.7% in the 1st 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 last quarter. 16.75% of the stock is owned by institutional investors and hedge funds.

About Trilogy Metals

Trilogy Metals Inc is a mineral exploration and development company focused on advancing copper, zinc, lead, gold and silver projects in Alaska. Its principal assets are located in the Upper Kobuk River region of northwestern Alaska, an area prospective for deposits containing metals used in construction, manufacturing, energy infrastructure and technology applications.

Through Ambler Metals LLC, its joint venture with South32, Trilogy Metals holds interests in the Upper Kobuk River project, which includes the Arctic copper-zinc-lead-gold-silver deposit and the Bornite copper project.

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