Trilogy Metals (NYSEAMERICAN:TMQ) Sets New 1-Year High - What's Next?

Key Points

• Trilogy Metals Inc. shares reached a new 52-week high at $7.08, while the last trade was at $6.67, marking a significant increase from a previous closure of $2.09.
• Analysts have mixed opinions, with Raymond James upgrading the stock to "outperform," while Cowen maintained a "hold" rating, resulting in an overall average rating of "Moderate Buy."
• Institutional investors have increased their holdings in Trilogy Metals, with notable increases by Old West Investment Management (61.1%) and TSP Capital Management Group (17.8%) during the last two quarters.

Trilogy Metals Inc. (NYSEAMERICAN:TMQ - Get Free Report)'s share price hit a new 52-week high on Tuesday . The company traded as high as $7.08 and last traded at $6.67, with a volume of 54664977 shares changing hands. The stock had previously closed at $2.09.

Wall Street Analyst Weigh In

TMQ has been the topic of a number of recent research reports. Raymond James Financial upgraded Trilogy Metals from a "market perform" rating to an "outperform" rating in a research report on Tuesday. Cowen reaffirmed a "hold" rating on shares of Trilogy Metals in a research note on Tuesday. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy".

Trilogy Metals Trading Up 209.6%

The business's fifty day simple moving average is $1.82 and its 200 day simple moving average is $1.61. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of -128.78 and a beta of 1.18.

Trilogy Metals (NYSEAMERICAN:TMQ - Get Free Report) last posted its quarterly earnings results on Thursday, July 10th. The mining company reported ($0.01) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.01). As a group, research analysts anticipate that Trilogy Metals Inc. will post -0.03 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director William L. Iggiagruk Hensley sold 50,000 shares of the business's stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $1.74, for a total transaction of $87,000.00. Following the completion of the transaction, the director owned 143,638 shares in the company, valued at approximately $249,930.12. The trade was a 25.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 15.20% of the stock is owned by insiders.

Institutional Trading of Trilogy Metals

Large investors have recently made changes to their positions in the company. Old West Investment Management LLC lifted its holdings in Trilogy Metals by 61.1% during the first 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. TSP Capital Management Group LLC lifted its holdings in shares of Trilogy Metals by 17.8% during the 2nd quarter. TSP Capital Management Group LLC now owns 6,152,500 shares of the mining company's stock valued at $8,306,000 after purchasing an additional 930,000 shares in the last quarter. Two Sigma Investments LP bought a new position in shares of Trilogy Metals during the 4th quarter valued at about $416,000. Envestnet Asset Management Inc. grew its position in shares of Trilogy Metals by 120.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 562,080 shares of the mining company's stock valued at $759,000 after purchasing an additional 306,547 shares during the period. Finally, Bornite Capital Management LP increased its stake in Trilogy Metals by 42.9% during the 1st quarter. Bornite Capital Management LP now owns 1,000,000 shares of the mining company's stock worth $1,550,000 after purchasing an additional 300,000 shares in the last quarter. Institutional investors own 16.75% of the company's stock.

Trilogy Metals Company Profile

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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