Trilogy Metals (TSE:TMQ) Shares Pass Below Fifty Day Moving Average - Here's What Happened

Key Points

• Trilogy Metals shares fell below their 50-day moving average, declining as low as C$4.04 before closing at C$4.11, compared with a 50-day average of C$5.09.
• Analyst sentiment remains positive overall, with an average rating of “Moderate Buy” and a C$7.00 average price target. National Bank Financial cut its target to C$7.50, while Raymond James upgraded the stock to “moderate buy.”
• Director William L. Iggiagruk Hensley sold 50,000 shares for approximately C$304,000, reducing his ownership by nearly 73%; insiders still hold 17.86% of the company.

Trilogy Metals Inc. (TSE:TMQ - Get Free Report)'s share price passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$5.09 and traded as low as C$4.04. Trilogy Metals shares last traded at C$4.11, with a volume of 400,683 shares.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on TMQ shares. National Bank Financial lowered their price objective on shares of Trilogy Metals from C$9.50 to C$7.50 and set a "sector perform" rating for the company in a research report on Wednesday, April 15th. Raymond James Financial raised shares of Trilogy Metals from a "hold" rating to a "moderate buy" rating in a report on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of C$7.00.

Trilogy Metals Stock Performance

The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.25 and a current ratio of 1.11. The stock has a 50 day moving average of C$5.09 and a 200 day moving average of C$5.72. The stock has a market capitalization of C$709.99 million, a P/E ratio of -13.70 and a beta of 1.50.

Insider Activity

In other news, Director William L. Iggiagruk Hensley sold 50,000 shares of the company's stock in a transaction dated Friday, May 8th. The shares were sold at an average price of C$6.08, for a total transaction of C$304,000.00. Following the completion of the transaction, the director owned 18,531 shares in the company, valued at approximately C$112,668.48. This represents a 72.96% decrease in their ownership of the stock. Company insiders own 17.86% of the company's stock.

About Trilogy Metals

Trilogy Metals Inc is a metal exploration and development company which holds a 50 percent interest in Ambler Metals LLC, which has a 100 percent interest in the UKMP in northwestern Alaska. On December 19, 2019, South32 Limited, a globally diversified mining and metals company, exercised its option to form a 50/50 joint venture with Trilogy. The UKMP is located within the Ambler Mining District which is one of the richest and most-prospective known copper-dominant districts in the world. It hosts world-class polymetallic volcanogenic massive sulphide ("VMS") deposits that contain copper, zinc, lead, gold and silver, and carbonate replacement deposits which have been found to host high-grade copper and cobalt mineralization.

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