Trilogy Metals (NYSEAMERICAN:TMQ) Sets New 1-Year High - Still a Buy?

Key Points

• Trilogy Metals Inc. has reached a new 52-week high of $8.79, up from a previous close of $6.56, with substantial trading volume of over 33.9 million shares.
• While analysts have mixed ratings on the stock, it currently holds a consensus rating of Hold with a price target averaging $7.75.
• Recent insider activity includes significant share sales by executives, with over 1 million shares sold in the last three months, indicating potential concerns from company leadership.

Trilogy Metals Inc. (NYSEAMERICAN:TMQ - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $8.45 and last traded at $8.79, with a volume of 33950020 shares changing hands. The stock had previously closed at $6.56.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on TMQ shares. 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. Cowen reiterated a "hold" rating on shares of Trilogy Metals in a report on Tuesday, October 7th. Cormark cut shares of Trilogy Metals from a "moderate buy" rating to a "hold" rating in a report on Wednesday, October 8th. TD Securities reiterated a "hold" rating on shares of Trilogy Metals in a report on Tuesday, October 7th. Finally, BMO Capital Markets reiterated a "market perform" rating and issued a $5.50 price target on shares of Trilogy Metals in a report on Friday. Two research 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, the stock presently has a consensus rating of "Hold" and an average target price of $7.75.

Trilogy Metals Price Performance

The stock has a 50 day moving average price of $2.30 and a two-hundred day moving average price of $1.77. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of -192.76 and a beta of 1.18.

Insider Activity

In related news, Director Janice Stairs sold 50,613 shares of the business's stock in a transaction on Thursday, October 9th. The stock was sold at an average price of $6.56, for a total transaction of $332,021.28. Following the completion of the transaction, the director directly owned 508,608 shares of the company's stock, valued at $3,336,468.48. The trade was a 9.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Elaine Sanders sold 449,599 shares of the business's stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $6.84, for a total value of $3,075,257.16. Following the transaction, the chief financial officer directly owned 3,149,561 shares of the company's stock, valued at $21,542,997.24. The trade was a 12.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,014,506 shares of company stock worth $6,612,194 over the last three months. Company insiders own 15.20% of the company's stock.

Institutional Investors Weigh In On Trilogy Metals

Hedge funds and other institutional investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. acquired a new stake in shares of Trilogy Metals during the 1st quarter worth about $396,000. DLD Asset Management LP acquired a new stake in shares of Trilogy Metals during the 1st quarter worth about $388,000. Old West Investment Management LLC raised its position in shares of Trilogy Metals by 61.1% during 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 acquiring an additional 4,781,670 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Trilogy Metals in the 1st quarter valued at about $83,000. Finally, Legacy Capital Group California Inc. purchased a new stake in shares of Trilogy Metals in the 1st quarter valued at about $232,000. Institutional investors and hedge funds own 16.75% of the company's stock.

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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