Trilogy Metals (NYSEAMERICAN:TMQ) Director William Beckwith Hayden Sells 200,000 Shares

Key Points

• Director William Beckwith Hayden sold 200,000 shares of Trilogy Metals stock at an average price of $6.61, totaling $1.32 million, reducing his position by 34.32%.
• Trilogy Metals' stock is down 9.5%, trading at $5.93 after a significant increase in trading volume, with a market cap of $974.36 million.
• Analysts maintain an average rating of "Hold" for Trilogy Metals, with a target price of $7.75, as recent ratings have varied from upgrades to downgrades by multiple firms.

Trilogy Metals Inc. (NYSEAMERICAN:TMQ - Get Free Report) Director William Beckwith Hayden sold 200,000 shares of Trilogy Metals stock in a transaction on Thursday, October 9th. The shares were sold at an average price of $6.61, for a total value of $1,322,000.00. Following the completion of the sale, the director owned 382,685 shares in the company, valued at $2,529,547.85. This represents a 34.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

William Beckwith Hayden also recently made the following trade(s):

• On Wednesday, October 8th, William Beckwith Hayden sold 64,294 shares of Trilogy Metals stock. The shares were sold at an average price of $7.06, for a total value of $453,915.64.

Trilogy Metals Stock Down 9.5%

NYSEAMERICAN:TMQ traded down $0.62 on Friday, reaching $5.93. The company's stock had a trading volume of 35,147,898 shares, compared to its average volume of 2,396,924. Trilogy Metals Inc. has a 12-month low of $0.49 and a 12-month high of $7.98. The firm has a market cap of $974.36 million, a price-to-earnings ratio of -118.60 and a beta of 1.18. The stock has a 50 day moving average price of $2.20 and a 200 day moving average price of $1.73.

Trilogy Metals (NYSEAMERICAN:TMQ - Get Free Report) last posted its earnings results on Thursday, July 10th. The mining company reported ($0.01) EPS for the quarter, meeting analysts' consensus estimates of ($0.01). Equities research analysts expect that Trilogy Metals Inc. will post -0.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Trilogy Metals

Several large investors have recently bought and sold shares of the stock. Bank of America Corp DE increased its holdings in Trilogy Metals by 16.5% during the 2nd quarter. Bank of America Corp DE now owns 122,095 shares of the mining company's stock worth $165,000 after purchasing an additional 17,291 shares during the period. Jane Street Group LLC purchased a new stake in Trilogy Metals during the 2nd quarter worth about $154,000. DLD Asset Management LP increased its holdings in Trilogy Metals by 20.0% during the 2nd quarter. DLD Asset Management LP now owns 300,000 shares of the mining company's stock worth $405,000 after purchasing an additional 50,000 shares during the period. XTX Topco Ltd purchased a new stake in Trilogy Metals during the 2nd quarter worth about $115,000. Finally, JPMorgan Chase & Co. increased its holdings in Trilogy Metals by 5,289.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 204,800 shares of the mining company's stock worth $276,000 after purchasing an additional 201,000 shares during the period. Hedge funds and other institutional investors own 16.75% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on TMQ. BMO Capital Markets reiterated a "market perform" rating and issued a $5.50 price objective on shares of Trilogy Metals in a report on Friday. TD Securities reiterated a "hold" rating on shares of Trilogy Metals in a report on Tuesday. Raymond James Financial upgraded Trilogy Metals from a "hold" rating to a "moderate buy" rating in a report on Tuesday. Cormark downgraded Trilogy Metals from a "moderate buy" rating to a "hold" rating in a report on Wednesday. Finally, Cowen reiterated a "hold" rating on shares of Trilogy Metals in a report on Tuesday. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.