Trilogy Metals (NYSEAMERICAN:TMQ) Stock Price Crosses Below 200-Day Moving Average - Here's Why

Key Points

• Trilogy Metals shares fell below their 200-day moving average, reaching $3.74 versus the $3.98 average, with 888,840 shares traded.
• Analyst sentiment weakened, with UBS Group and Freedom Capital downgrading the stock to “Hold” and Zacks Research cutting it to “Strong Sell.” The consensus rating is “Hold,” with an average price target of $7.75.
• The company reported a quarterly loss of $0.04 per share, missing the expected $0.01 loss, while hedge funds and other institutions own 16.75% of the stock.

Trilogy Metals Inc. (NYSEAMERICAN:TMQ - Get Free Report) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.98 and traded as low as $3.74. Trilogy Metals shares last traded at $3.74, with a volume of 888,840 shares trading hands.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. UBS Group lowered Trilogy Metals to a "hold" rating in a report on Wednesday, August 5th. Zacks Research lowered Trilogy Metals from a "hold" rating to a "strong sell" rating in a research report on Monday, August 3rd. Finally, Freedom Capital cut Trilogy Metals from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 5th. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Trilogy Metals currently has an average rating of "Hold" and an average price target of $7.75.

Trilogy Metals Price Performance

The firm has a market cap of $645.52 million, a price-to-earnings ratio of -12.47 and a beta of 1.46. The stock's fifty day moving average price is $3.44 and its 200-day moving average price is $3.98.

Trilogy Metals (NYSEAMERICAN:TMQ - Get Free Report) last released its earnings results on Wednesday, July 8th. The mining company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.03). During the same quarter in the prior year, the firm posted ($0.01) earnings per share. As a group, equities research analysts predict that Trilogy Metals Inc. will post -0.05 EPS for the current fiscal year.

Institutional Trading of Trilogy Metals

A number of hedge funds have recently made changes to their positions in TMQ. Electrum Group LLC purchased a new position in shares of Trilogy Metals during the 4th quarter valued at $136,216,000. Old West Investment Management LLC acquired a new position in Trilogy Metals in the 2nd quarter worth about $21,385,000. Tidal Investments LLC increased its position in Trilogy Metals by 33.0% in the 3rd quarter. Tidal Investments LLC now owns 3,625,129 shares of the mining company's stock worth $7,613,000 after purchasing an additional 899,656 shares during the last quarter. Walleye Capital LLC raised its stake in shares of Trilogy Metals by 271.7% during the 1st quarter. Walleye Capital LLC now owns 945,678 shares of the mining company's stock worth $3,395,000 after purchasing an additional 691,267 shares in the last quarter. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of Trilogy Metals during the 3rd quarter worth about $1,050,000. 16.75% of the stock is owned by hedge funds and other institutional investors.

Trilogy Metals Company Profile

Trilogy Metals Inc is a mineral exploration and development company focused on advancing high‐value copper, zinc, lead, gold and silver projects in northwestern Alaska. The company's flagship asset lies within the Ambler mining district, where it has assembled over 100,000 acres of mineral rights. Through systematic exploration programs, Trilogy Metals seeks to delineate and expand polymetallic deposits in one of the world's richest base and precious metal regions.

The centerpiece of Trilogy's portfolio is the Upper Kobuk Mineral Projects (UKMP), which includes the Arctic copper‐zinc‐lead‐gold‐silver deposit and the Bornite copper deposit.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source