Trilogy Metals Sees Unusually High Options Volume (NYSEAMERICAN:TMQ)

Key Points

• Trilogy Metals Inc. experienced a 39% increase in call options volume, trading 3,081 contracts on Thursday compared to an average of 2,212.
• Director William L. Iggiagruk Hensley sold 50,000 shares of Trilogy Metals stock, representing a 25.82% decrease in his ownership, valued at approximately $87,000.
• Analysts are divided on Trilogy Metals' stock, with Cantor Fitzgerald upgrading it to a "buy" rating while Cormark downgraded it to a "hold" rating.

Trilogy Metals Inc. (NYSEAMERICAN:TMQ - Get Free Report) was the recipient of some unusual options trading on Thursday. Stock traders purchased 3,081 call options on the company. This represents an increase of approximately 39% compared to the average volume of 2,212 call options.

Insider Transactions at Trilogy Metals

In other Trilogy Metals news, Director William L. Iggiagruk Hensley sold 50,000 shares of Trilogy Metals stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $1.74, for a total value of $87,000.00. Following the transaction, the director owned 143,638 shares in the company, valued at $249,930.12. The trade was a 25.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 15.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Trilogy Metals

A number of institutional investors have recently modified their holdings of TMQ. Goehring & Rozencwajg Associates LLC raised its position in shares of Trilogy Metals by 0.8% during the first quarter. Goehring & Rozencwajg Associates LLC now owns 1,402,797 shares of the mining company's stock worth $2,282,000 after purchasing an additional 10,600 shares during the period. Envestnet Asset Management Inc. acquired a new position in shares of Trilogy Metals during the first quarter worth approximately $396,000. Legacy Capital Group California Inc. acquired a new position in shares of Trilogy Metals during the first quarter worth approximately $232,000. Virtu Financial LLC acquired a new position in shares of Trilogy Metals during the first quarter worth approximately $83,000. Finally, Bornite Capital Management LP raised its position in Trilogy Metals by 42.9% in 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 buying an additional 300,000 shares during the last quarter. 16.75% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on TMQ shares. Cormark cut Trilogy Metals from a "moderate buy" rating to a "hold" rating in a report on Wednesday. Cantor Fitzgerald upgraded Trilogy Metals to a "buy" rating and set a $10.00 price target on the stock in a report on Tuesday. Cowen restated a "hold" rating on shares of Trilogy Metals in a report on Tuesday. TD Securities restated a "hold" rating on shares of Trilogy Metals in a report on Tuesday. Finally, Raymond James Financial upgraded Trilogy Metals from a "hold" rating to a "moderate buy" rating in a report on Tuesday. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $10.00.

Trilogy Metals Stock Up 4.7%

TMQ traded up $0.30 during trading on Thursday, hitting $6.61. The company's stock had a trading volume of 6,840,550 shares, compared to its average volume of 2,139,337. Trilogy Metals has a twelve month low of $0.49 and a twelve month high of $7.98. The stock's fifty day moving average price is $2.01 and its 200-day moving average price is $1.67. The firm has a market capitalization of $1.09 billion, a P/E ratio of -131.50 and a beta of 1.18.

Trilogy Metals (NYSEAMERICAN:TMQ - Get Free Report) last issued its quarterly earnings results on Thursday, July 10th. The mining company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). Equities research analysts expect that Trilogy Metals will post -0.03 EPS for the current fiscal 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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