Trilogy Metals (NYSEAMERICAN:TMQ) Downgraded by Zacks Research to "Strong Sell"

Key Points

• Zacks Research downgraded Trilogy Metals to “Strong Sell” from “Hold,” although Raymond James separately upgraded the stock to “Outperform.” MarketBeat’s overall analyst consensus remains “Moderate Buy,” with a $7.75 target price.
• Trilogy Metals shares opened at $3.44, compared with 50-day and 200-day moving averages of $3.56 and $4.08, respectively. The company recently reported a quarterly loss of $0.04 per share, missing the $0.01-loss consensus estimate.
• An insider sold 50,000 shares for approximately $222,000, reducing his position by nearly 73%; insiders own 14.6% of the company, while institutional investors and hedge funds own 16.75%.

Trilogy Metals (NYSEAMERICAN:TMQ - Get Free Report) was downgraded by Zacks Research from a "hold" rating to a "strong sell" rating in a research note issued to investors on Monday,Zacks.com reports.

Separately, Raymond James Financial raised shares of Trilogy Metals from a "market perform" rating to an "outperform" rating in a research note on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Trilogy Metals has a consensus rating of "Moderate Buy" and a consensus target price of $7.75.

Trilogy Metals Price Performance

Shares of TMQ opened at $3.44 on Monday. The firm has a 50 day simple moving average of $3.56 and a 200-day simple moving average of $4.08. Trilogy Metals has a 1-year low of $1.43 and a 1-year high of $11.29. The stock has a market cap of $593.74 million, a price-to-earnings ratio of -11.47 and a beta of 1.46.

Trilogy Metals (NYSEAMERICAN:TMQ - Get Free Report) last issued its quarterly earnings data on Wednesday, July 8th. The mining company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.03). During the same period in the previous year, the business posted ($0.01) earnings per share. On average, equities analysts expect that Trilogy Metals will post -0.05 earnings per share for the current fiscal year.

Insider Activity at Trilogy Metals

In other news, Director William L. Iggiagruk Hensley sold 50,000 shares of the business's stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $4.44, for a total value of $222,000.00. Following the completion of the sale, the director directly owned 18,531 shares in the company, valued at approximately $82,277.64. The trade was a 72.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 14.60% of the company's stock.

Hedge Funds Weigh In On Trilogy Metals

Hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its holdings in shares of Trilogy Metals by 26.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 27,514 shares of the mining company's stock valued at $119,000 after buying an additional 5,821 shares during the last quarter. Marshall Wace LLP lifted its position in Trilogy Metals by 10.4% in the fourth quarter. Marshall Wace LLP now owns 64,657 shares of the mining company's stock worth $279,000 after purchasing an additional 6,100 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in Trilogy Metals in the fourth quarter worth approximately $27,000. State of Wyoming bought a new position in Trilogy Metals during the 4th quarter valued at $32,000. Finally, Chicago Partners Investment Group LLC boosted its stake in Trilogy Metals by 33.8% during the 1st quarter. Chicago Partners Investment Group LLC now owns 32,123 shares of the mining company's stock valued at $115,000 after purchasing an additional 8,123 shares in the last quarter. Institutional investors and hedge funds 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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