Trilogy Metals (NYSEAMERICAN:TMQ) Shares Gap Down - What's Next?

Key Points

• Trilogy Metals' stock price opened at $5.16 after a gap down from a previous close of $5.56, with the latest trade at $5.24.
• Recent analyst ratings show mixed reviews, with Raymond James upgrading to a "moderate buy" while Cormark downgraded to "hold"; the average target price is $7.75.
• Insider trading activity involved significant sales, with Director William L. Iggiagruk Hensley selling 100,000 shares and Director William Beckwith Hayden selling 200,000 shares within a week.

Trilogy Metals Inc. (NYSEAMERICAN:TMQ - Get Free Report)'s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $5.56, but opened at $5.16. Trilogy Metals shares last traded at $5.24, with a volume of 2,644,706 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TMQ. 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. Cormark lowered shares of Trilogy Metals from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, October 8th. Cantor Fitzgerald raised shares of Trilogy Metals to a "buy" rating and set a $10.00 target price on the stock in a research note on Tuesday, October 7th. Cowen reissued a "hold" rating on shares of Trilogy Metals in a research note on Tuesday, October 7th. Finally, BMO Capital Markets reissued a "market perform" rating and set a $5.50 target price on shares of Trilogy Metals in a research note on Friday, October 10th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $7.75.

Trilogy Metals Stock Down 9.4%

The firm has a market capitalization of $847.17 million, a P/E ratio of -100.80 and a beta of 1.18. The company's 50 day moving average is $3.00 and its 200-day moving average is $2.01.

Insider Activity

In other Trilogy Metals news, Director William L. Iggiagruk Hensley sold 100,000 shares of the company's stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $6.39, for a total transaction of $639,000.00. Following the transaction, the director owned 43,638 shares in the company, valued at approximately $278,846.82. This represents a 69.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director William Beckwith Hayden sold 200,000 shares of the company's stock in a transaction on Thursday, October 9th. The stock was sold at an average price of $6.61, for a total transaction of $1,322,000.00. Following the transaction, the director owned 382,685 shares in the company, valued at approximately $2,529,547.85. The trade was a 34.32% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,114,506 shares of company stock valued at $7,362,194. 15.20% of the stock is currently owned by insiders.

Institutional Trading of Trilogy Metals

Several institutional investors and hedge funds have recently made changes to their positions in the company. Birchbrook Inc. increased its holdings in Trilogy Metals by 25.0% during the first quarter. Birchbrook Inc. now owns 50,000 shares of the mining company's stock worth $78,000 after buying an additional 10,000 shares during the last quarter. Goehring & Rozencwajg Associates LLC increased its holdings in Trilogy Metals by 0.8% during the first quarter. Goehring & Rozencwajg Associates LLC now owns 1,402,797 shares of the mining company's stock worth $2,282,000 after buying an additional 10,600 shares during the last quarter. Bank of America Corp DE increased its holdings in Trilogy Metals by 16.5% during the second quarter. Bank of America Corp DE now owns 122,095 shares of the mining company's stock worth $165,000 after buying an additional 17,291 shares during the last quarter. DLD Asset Management LP increased its holdings in Trilogy Metals by 20.0% during the second quarter. DLD Asset Management LP now owns 300,000 shares of the mining company's stock worth $405,000 after buying an additional 50,000 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in Trilogy Metals during the first quarter worth about $83,000. Hedge funds and other institutional investors 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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