Trilogy Metals (NYSEAMERICAN:TMQ) Stock Passes Above Fifty Day Moving Average on Analyst Downgrade

Key Points

• Trilogy Metals' stock price recently crossed above its 50-day moving average of $2.01 and is currently trading at $6.31, with an upgraded buy rating from Cantor Fitzgerald setting a price target of $10.00.
• Analysts have varied ratings on the stock, with two rated as a Buy and three as a Hold, leading to a consensus rating of "Hold" according to MarketBeat.
• The company's director recently sold 50,000 shares for approximately $87,000, reducing their ownership by 25.82%, highlighting insider trading activity amidst institutional investment in Trilogy Metals.

Shares of Trilogy Metals Inc. (NYSEAMERICAN:TMQ - Get Free Report) crossed above its 50 day moving average during trading on Wednesday after Cantor Fitzgerald upgraded the stock to a buy rating. The stock has a 50 day moving average of $2.01 and traded as high as $7.25. Cantor Fitzgerald now has a $10.00 price target on the stock. Trilogy Metals shares last traded at $6.31, with a volume of 47,648,032 shares.

Other analysts also recently issued research reports about the company. Cowen reaffirmed a "hold" rating on shares of Trilogy Metals in a research report on Tuesday. Raymond James Financial raised Trilogy Metals from a "hold" rating to a "moderate buy" rating in a research report on Tuesday. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $10.00.

Insiders Place Their Bets

In other Trilogy Metals 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 stock was sold at an average price of $1.74, for a total transaction of $87,000.00. Following the transaction, the director owned 143,638 shares of the company's stock, valued at $249,930.12. The trade was a 25.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 15.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Trilogy Metals

Institutional investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. acquired a new position in Trilogy Metals during the first quarter worth approximately $396,000. DLD Asset Management LP bought a new stake in shares of Trilogy Metals during the first quarter worth approximately $388,000. Old West Investment Management LLC boosted its holdings in shares of 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 during the period. Virtu Financial LLC bought a new stake in shares of Trilogy Metals during the first quarter worth approximately $83,000. Finally, Legacy Capital Group California Inc. bought a new stake in shares of Trilogy Metals during the first quarter worth approximately $232,000. Institutional investors and hedge funds own 16.75% of the company's stock.

Trilogy Metals Stock Down 2.9%

The company has a market cap of $1.04 billion, a P/E ratio of -126.20 and a beta of 1.18. The business has a fifty day moving average price of $2.01 and a 200-day moving average price of $1.67.

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

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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