Trilogy Metals (NYSEAMERICAN:TMQ) Rating Lowered to Hold at Freedom Capital

Key Points

• Freedom Capital downgraded Trilogy Metals to “Hold” from “Strong Buy,” while UBS also issued a Hold rating and Zacks Research cut its view to “Strong Sell.” The stock has a consensus Hold rating and an average price target of $7.75.
• Trilogy Metals opened at $3.60, with a market capitalization of approximately $621 million and shares trading between a 52-week range of $1.43 and $11.29. The company reported a quarterly loss of $0.04 per share, missing the $0.01 loss analysts expected.
• Institutional ownership stands at 16.75%, with new positions from Old West Investment Management and other investors, while Bank of America and Royal Bank of Canada increased their stakes.

Trilogy Metals (NYSEAMERICAN:TMQ - Get Free Report) was downgraded by analysts at Freedom Capital from a "strong-buy" rating to a "hold" rating in a report released on Wednesday,Zacks.com reports.

Several other research firms also recently weighed in on TMQ. UBS Group downgraded Trilogy Metals to a "hold" rating in a report on Wednesday. Zacks Research downgraded shares of Trilogy Metals from a "hold" rating to a "strong sell" rating in a research report on Monday. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Trilogy Metals currently has a consensus rating of "Hold" and an average price target of $7.75.

Trilogy Metals Stock Performance

Trilogy Metals stock opened at $3.60 on Wednesday. The company has a market capitalization of $621.36 million, a P/E ratio of -12.00 and a beta of 1.46. Trilogy Metals has a fifty-two week low of $1.43 and a fifty-two week high of $11.29. The stock has a 50-day simple moving average of $3.52 and a 200-day simple moving average of $4.05.

Trilogy Metals (NYSEAMERICAN:TMQ - Get Free Report) last released its quarterly earnings results on Wednesday, July 8th. The mining company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.03). During the same period in the previous year, the firm posted ($0.01) earnings per share. As a group, analysts forecast that Trilogy Metals will post -0.05 earnings per share for the current year.

Institutional Trading of Trilogy Metals

Several institutional investors and hedge funds have recently added to or reduced their stakes in TMQ. Old West Investment Management LLC acquired a new stake in Trilogy Metals during the 2nd quarter worth approximately $21,385,000. Silverlake Wealth Management LLC acquired a new position in shares of Trilogy Metals in the second quarter valued at approximately $39,000. Bank of New York Mellon Corp acquired a new position in shares of Trilogy Metals in the second quarter valued at approximately $41,000. Bank of America Corp DE raised its stake in shares of Trilogy Metals by 7.7% during the first quarter. Bank of America Corp DE now owns 384,732 shares of the mining company's stock worth $1,381,000 after purchasing an additional 27,404 shares during the last quarter. Finally, Royal Bank of Canada raised its stake in shares of Trilogy Metals by 476.0% during the first quarter. Royal Bank of Canada now owns 25,742 shares of the mining company's stock worth $92,000 after purchasing an additional 21,273 shares during the last quarter. 16.75% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source