Trilogy Metals (NYSEAMERICAN:TMQ) Director James Gowans Sells 100,000 Shares

Key Points

• Director James Gowans of Trilogy Metals sold 100,000 shares at an average price of $7.50, resulting in a total of $750,000 and a 29.94% reduction in his holdings.
• The stock price of Trilogy Metals decreased by 9.0% following the transaction, closing at $6.46 with a significant increase in trading volume at 15,707,706 shares.
• Various analysts have given Trilogy Metals a consensus rating of "Hold" with an average price target of $7.75, reflecting mixed opinions about the stock's performance.

Trilogy Metals Inc. (NYSEAMERICAN:TMQ - Get Free Report) Director James Gowans sold 100,000 shares of the company's stock in a transaction dated Thursday, October 16th. The stock was sold at an average price of $7.50, for a total transaction of $750,000.00. Following the completion of the transaction, the director owned 234,046 shares of the company's stock, valued at approximately $1,755,345. This trade represents a 29.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Trilogy Metals Trading Down 9.0%

TMQ traded down $0.64 on Friday, reaching $6.46. The company had a trading volume of 15,707,706 shares, compared to its average volume of 3,707,277. The company has a market capitalization of $1.09 billion, a P/E ratio of -129.20 and a beta of 1.18. The company has a fifty day moving average of $2.73 and a 200-day moving average of $1.91. Trilogy Metals Inc. has a one year low of $0.55 and a one year high of $11.29.

Hedge Funds Weigh In On Trilogy Metals

A number of institutional investors and hedge funds have recently bought and sold shares of TMQ. Envestnet Asset Management Inc. bought a new position in shares of Trilogy Metals during the 1st quarter worth about $396,000. DLD Asset Management LP bought a new stake in Trilogy Metals in the first quarter valued at about $388,000. Old West Investment Management LLC raised its holdings in shares of 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 worth $19,611,000 after buying an additional 4,781,670 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Trilogy Metals in the 1st quarter valued at $83,000. Finally, Legacy Capital Group California Inc. bought a new stake in Trilogy Metals during the first quarter worth about $232,000. Institutional investors own 16.75% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on TMQ shares. BMO Capital Markets reaffirmed a "market perform" rating and set a $5.50 price objective on shares of Trilogy Metals in a research note on Friday, October 10th. Raymond James Financial raised shares of Trilogy Metals from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, October 7th. TD Securities reissued a "hold" rating on shares of Trilogy Metals in a research note on Tuesday, October 7th. Cormark cut Trilogy Metals from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, October 8th. Finally, Cowen reissued a "hold" rating on shares of Trilogy Metals in a research note on Tuesday, October 7th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Trilogy Metals has a consensus rating of "Hold" and an average 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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