Trilogy Metals Inc. (NYSEAMERICAN:TMQ - Get Free Report) rose 5.9% on Friday . The company traded as high as $7.10 and last traded at $6.94. Approximately 11,736,556 shares changed hands during trading, an increase of 416% from the average daily volume of 2,272,539 shares. The stock had previously closed at $6.55.
Wall Street Analyst Weigh In
TMQ has been the subject of a number of recent analyst reports. Cowen restated a "hold" rating on shares of Trilogy Metals in a research note on Tuesday. BMO Capital Markets reaffirmed a "market perform" rating and set a $5.50 target price on shares of Trilogy Metals in a report on Friday. Cantor Fitzgerald raised Trilogy Metals to a "buy" rating and set a $10.00 target price on the stock in a report on Tuesday. Cormark downgraded Trilogy Metals from a "moderate buy" rating to a "hold" rating in a report on Wednesday. Finally, TD Securities reaffirmed a "hold" rating on shares of Trilogy Metals in a report on Tuesday. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $7.75.
Read Our Latest Stock Analysis on TMQ
Trilogy Metals Stock Performance
The firm has a market cap of $1.09 billion, a P/E ratio of -134.64 and a beta of 1.18. The firm has a fifty day moving average of $2.11 and a 200-day moving average of $1.70.
Trilogy Metals (NYSEAMERICAN:TMQ - Get Free Report) last announced its quarterly earnings results on Thursday, July 10th. The mining company reported ($0.01) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.01). Equities research analysts expect that Trilogy Metals Inc. will post -0.03 earnings per share for the current year.
Insider Activity
In related news, Director William L. Iggiagruk Hensley sold 50,000 shares of the firm'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 value of $87,000.00. Following the sale, the director owned 143,638 shares of the company's stock, valued at approximately $249,930.12. This trade represents a 25.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 15.20% of the company's stock.
Institutional Trading of Trilogy Metals
Several hedge funds have recently added to or reduced their stakes in TMQ. Goehring & Rozencwajg Associates LLC raised its stake in Trilogy Metals by 0.8% during the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 1,402,797 shares of the mining company's stock valued at $2,282,000 after acquiring an additional 10,600 shares in the last quarter. Envestnet Asset Management Inc. bought a new stake in Trilogy Metals during the 1st quarter valued at $396,000. Legacy Capital Group California Inc. acquired a new position in shares of Trilogy Metals during the 1st quarter valued at $232,000. Virtu Financial LLC acquired a new position in shares of Trilogy Metals during the 1st quarter valued at $83,000. Finally, Bornite Capital Management LP increased its position in shares of Trilogy Metals by 42.9% during the 1st quarter. Bornite Capital Management LP now owns 1,000,000 shares of the mining company's stock valued at $1,550,000 after purchasing an additional 300,000 shares during the period. Institutional investors own 16.75% of the company's stock.
Trilogy Metals Company Profile
(
Get Free Report)
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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