Trilogy Metals (NYSEAMERICAN:TMQ) Share Price Passes Above 50-Day Moving Average - Here's Why

Trilogy Metals Inc. (NYSEAMERICAN:TMQ - Get Free Report) crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $1.48 and traded as high as $1.72. Trilogy Metals shares last traded at $1.69, with a volume of 1,069,122 shares trading hands.

Analysts Set New Price Targets

Separately, Raymond James restated a "market perform" rating on shares of Trilogy Metals in a report on Monday, March 24th.

Trilogy Metals Trading Down 5.0 %

The stock has a market capitalization of $264.76 million, a PE ratio of -32.30 and a beta of 1.54. The firm's fifty day moving average is $1.50 and its 200-day moving average is $1.14.

Hedge Funds Weigh In On Trilogy Metals

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Foursixthree Capital LP purchased a new position in Trilogy Metals during the 4th quarter valued at about $2,954,000. Sprott Inc. increased its holdings in shares of Trilogy Metals by 64.9% during the 4th quarter. Sprott Inc. now owns 2,094,652 shares of the mining company's stock worth $2,430,000 after purchasing an additional 824,071 shares during the period. Tidal Investments LLC boosted its holdings in Trilogy Metals by 73.5% during the fourth quarter. Tidal Investments LLC now owns 1,848,427 shares of the mining company's stock valued at $2,144,000 after purchasing an additional 782,929 shares in the last quarter. Wexford Capital LP grew its position in Trilogy Metals by 15.5% in the fourth quarter. Wexford Capital LP now owns 5,282,761 shares of the mining company's stock valued at $6,128,000 after acquiring an additional 708,469 shares during the period. Finally, Bornite Capital Management LP acquired a new position in Trilogy Metals in the fourth quarter valued at about $812,000. Institutional investors and hedge funds 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.