Trilogy Metals (NYSEAMERICAN:TMQ) Trading Down 4.7% Following Insider Selling

Key Points

• Trilogy Metals Inc. shares fell 4.7% after insider trading activity, with Director James Gowans selling 100,000 shares at an average price of $7.50.
• Despite the recent dip, analysts are optimistic, with Cantor Fitzgerald upgrading the stock to a "buy" rating and setting a price target of $10.00.
• Currently, 16.75% of Trilogy Metals stock is held by institutional investors and hedge funds, indicating significant interest from larger financial players.

Trilogy Metals Inc. (NYSEAMERICAN:TMQ - Get Free Report) shares dropped 4.7% during mid-day trading on Monday following insider selling activity. The stock traded as low as $6.26 and last traded at $6.16. Approximately 3,858,139 shares were traded during trading, an increase of 4% from the average daily volume of 3,704,096 shares. The stock had previously closed at $6.46.

Specifically, Director James Gowans sold 100,000 shares of the business's stock in a transaction dated Thursday, October 16th. The shares were sold at an average price of $7.50, for a total value of $750,000.00. Following the transaction, the director directly owned 234,046 shares in the company, valued at $1,755,345. The trade was a 29.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Wall Street Analysts Forecast Growth

TMQ has been the topic of a number of recent analyst reports. Cantor Fitzgerald upgraded shares of Trilogy Metals to a "buy" rating and set a $10.00 price target on the stock in a research report on Tuesday, October 7th. Cormark lowered shares of Trilogy Metals from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, October 8th. Raymond James Financial upgraded shares of Trilogy Metals from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, October 7th. TD Securities reiterated a "hold" rating on shares of Trilogy Metals in a research report on Tuesday, October 7th. Finally, Cowen reiterated a "hold" rating on shares of Trilogy Metals in a research report on Tuesday, October 7th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, Trilogy Metals currently has an average rating of "Hold" and a consensus price target of $7.75.

Trilogy Metals Stock Down 2.7%

The company's fifty day moving average is $2.82 and its two-hundred day moving average is $1.95. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of -125.50 and a beta of 1.18.

Hedge Funds Weigh In On Trilogy Metals

Large investors have recently bought and sold shares of the business. Birchbrook Inc. lifted its holdings in Trilogy Metals by 25.0% in the first quarter. Birchbrook Inc. now owns 50,000 shares of the mining company's stock valued at $78,000 after buying an additional 10,000 shares during the period. Virtu Financial LLC acquired a new position in Trilogy Metals in the first quarter valued at approximately $83,000. XTX Topco Ltd acquired a new position in Trilogy Metals in the second quarter valued at approximately $115,000. Jane Street Group LLC acquired a new position in Trilogy Metals in the second quarter valued at approximately $154,000. Finally, Bank of America Corp DE lifted its holdings in Trilogy Metals by 16.5% in the second quarter. Bank of America Corp DE now owns 122,095 shares of the mining company's stock valued at $165,000 after buying an additional 17,291 shares during the period. 16.75% of the stock is currently owned by institutional investors and hedge funds.

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.

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