Trilogy Metals (NYSEAMERICAN:TMQ) Shares Gap Down - Should You Sell?

Key Points

• Trilogy Metals (NYSEAMERICAN:TMQ) shares experienced a significant drop, opening at $9.94 after closing at $10.60, with a last traded price of $9.19.
• Recent analyst ratings include a "buy" from Cantor Fitzgerald with a target price of $10.00, while several others maintained "hold" ratings, indicating a consensus rating of Hold and an average target price of $7.75.
• Insider trading activity revealed significant sales, with directors selling over 200,000 shares recently, leading to a reported decrease in their ownership by more than 66%.

Trilogy Metals Inc. (NYSEAMERICAN:TMQ - Get Free Report) shares gapped down before the market opened on Wednesday . The stock had previously closed at $10.60, but opened at $9.94. Trilogy Metals shares last traded at $9.19, with a volume of 12,575,721 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on TMQ shares. TD Securities reaffirmed a "hold" rating on shares of Trilogy Metals in a research report on Tuesday, October 7th. Cowen reissued 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. Cantor Fitzgerald raised Trilogy Metals to a "buy" rating and set a $10.00 target price on the stock in a research report on Tuesday, October 7th. Finally, Raymond James Financial raised Trilogy Metals from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, October 7th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, Trilogy Metals currently has a consensus rating of "Hold" and an average target price of $7.75.

Trilogy Metals Stock Performance

The company has a market cap of $1.37 billion, a price-to-earnings ratio of -167.32 and a beta of 1.18. The company has a fifty day moving average of $2.48 and a two-hundred day moving average of $1.83.

Insider Buying and Selling

In related news, Director Diana J. Walters sold 100,000 shares of Trilogy Metals stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $7.03, for a total transaction of $703,000.00. Following the completion of the transaction, the director owned 51,302 shares of the company's stock, valued at $360,653.06. This trade represents a 66.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William L. Iggiagruk Hensley sold 100,000 shares of the stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $6.39, for a total value of $639,000.00. Following the sale, the director owned 43,638 shares of the company's stock, valued at approximately $278,846.82. The trade was a 69.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,014,506 shares of company stock valued at $6,612,194. Corporate insiders own 15.20% of the company's stock.

Institutional Investors Weigh In On Trilogy Metals

A number of large investors have recently bought and sold shares of the stock. Birchbrook Inc. boosted its position in shares of Trilogy Metals by 25.0% during the 1st quarter. Birchbrook Inc. now owns 50,000 shares of the mining company's stock worth $78,000 after purchasing an additional 10,000 shares in the last quarter. Virtu Financial LLC acquired a new stake in Trilogy Metals in the 1st quarter valued at $83,000. XTX Topco Ltd bought a new position in shares of Trilogy Metals in the second quarter valued at $115,000. Jane Street Group LLC bought a new position in shares of Trilogy Metals in the second quarter valued at $154,000. Finally, Bank of America Corp DE lifted its stake in shares of Trilogy Metals by 16.5% in the second quarter. Bank of America Corp DE now owns 122,095 shares of the mining company's stock valued at $165,000 after buying an additional 17,291 shares in the last quarter. 16.75% of the stock is currently owned by institutional investors and hedge funds.

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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