Trilogy Metals (TSE:TMQ) Stock Price Down 20.5% - Here's What Happened

Key Points

• Trilogy Metals Inc. shares fell by 20.5% during mid-day trading, closing at C$11.69 after having previously closed at C$14.70.
• Trading volume surged to 1,837,749 shares, an increase of 2,340% from the average session volume of 75,330 shares.
• Several brokerages issued mixed ratings, with TD Securities raising its target price to C$5.50 and Cormark downgrading its rating from "moderate buy" to "hold."

Trilogy Metals Inc. (TSE:TMQ - Get Free Report) shares fell 20.5% during mid-day trading on Wednesday . The company traded as low as C$11.00 and last traded at C$11.69. 1,837,749 shares changed hands during trading, an increase of 2,340% from the average session volume of 75,330 shares. The stock had previously closed at C$14.70.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TMQ. TD Securities raised their target price on shares of Trilogy Metals from C$2.25 to C$5.50 and gave the stock a "hold" rating in a research report on Tuesday, October 7th. Cormark downgraded Trilogy Metals from a "moderate buy" rating to a "hold" rating in a report on Wednesday, October 8th. Raymond James Financial raised Trilogy Metals from a "hold" rating to a "moderate buy" rating in a report on Tuesday, October 7th. Finally, BMO Capital Markets downgraded Trilogy Metals from an "outperform" rating to a "market perform" rating and set a C$5.50 price target for the company. in a report on Friday, October 10th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Trilogy Metals currently has an average rating of "Hold" and an average target price of C$4.50.

Trilogy Metals Trading Down 19.3%

The company has a quick ratio of 5.25, a current ratio of 60.98 and a debt-to-equity ratio of 0.12. The business has a fifty day simple moving average of C$3.42 and a 200 day simple moving average of C$2.52. The company has a market cap of C$1.95 billion, a price-to-earnings ratio of -197.83 and a beta of 1.94.

Trilogy Metals Company Profile

Trilogy Metals Inc is an exploration stage company engaged in mineral exploration. The company focuses on exploring and developing its mineral resource properties, which include the Upper Kobuk Mineral Projects (UKMP or UKMP Projects), in the Ambler mining district located in Alaska, the United States.

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