Trilogy Metals (NYSEAMERICAN:TMQ) Stock Price Down 4.7% - Here's What Happened

Key Points

• Trilogy Metals shares fell 4.7% to $3.3150 in Thursday’s midday trading, with volume of 613,741 shares—about 80% below the average session volume.
• Analyst sentiment weakened after Freedom Capital, Zacks Research and UBS Group downgraded the stock; the consensus rating is now “Hold”, with a target price of $7.75.
• The company reported a quarterly loss of $0.04 per share, missing the $0.01 loss analysts expected. Institutional ownership stands at 16.75%, while several large investors increased or initiated positions during the second quarter.

Trilogy Metals Inc. (NYSEAMERICAN:TMQ - Get Free Report)'s share price fell 4.7% during mid-day trading on Thursday . The stock traded as low as $3.32 and last traded at $3.3150. 613,741 shares were traded during trading, a decline of 80% from the average session volume of 3,035,031 shares. The stock had previously closed at $3.48.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Freedom Capital cut shares of Trilogy Metals from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 5th. Zacks Research cut shares of Trilogy Metals from a "hold" rating to a "strong sell" rating in a research report on Monday, August 3rd. Finally, UBS Group downgraded shares of Trilogy Metals to a "hold" rating in a report on Wednesday, August 5th. Five equities research 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. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $7.75.

Trilogy Metals Stock Performance

The stock has a market capitalization of $572.17 million, a P/E ratio of -11.05 and a beta of 1.49. The firm has a 50-day moving average price of $3.42 and a 200 day moving average price of $3.82.

Trilogy Metals (NYSEAMERICAN:TMQ - Get Free Report) last released its earnings results 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 period in the prior year, the company posted ($0.01) earnings per share. On average, equities analysts anticipate that Trilogy Metals Inc. will post -0.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Trilogy Metals

Institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System raised its position in Trilogy Metals by 439.0% in the 2nd quarter. California State Teachers Retirement System now owns 519,631 shares of the mining company's stock worth $1,824,000 after purchasing an additional 423,231 shares during the period. Moore Capital Management LP purchased a new stake in Trilogy Metals during the second quarter valued at about $1,375,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Trilogy Metals by 10.0% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 167,135 shares of the mining company's stock valued at $587,000 after buying an additional 15,161 shares during the period. Bank of America Corp DE purchased a new stake in Trilogy Metals during the second quarter valued at about $37,000. Finally, Jupiter Topco LLC bought a new position in shares of Trilogy Metals during the second quarter valued at about $182,000. Hedge funds and other institutional investors own 16.75% of the company's stock.

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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