Trilogy Metals (TSE:TMQ) Trading Up 39.2% - Here's Why

Key Points

• Trilogy Metals Inc. shares surged by 39.2% to C$11.72, with trading volume increasing to 691,022 shares compared to an average of 50,421 shares.
• Wall Street analysts are mixed on Trilogy Metals, with one analyst rating it as a Buy and three as Hold; the consensus price target is C$4.50.
• The company has a market capitalization of C$2.31 billion and is exploring its mineral resource projects in Alaska.

Shares of Trilogy Metals Inc. (TSE:TMQ - Get Free Report) shot up 39.2% on Tuesday . The company traded as high as C$11.99 and last traded at C$11.72. 691,022 shares traded hands during mid-day trading, an increase of 1,271% from the average session volume of 50,421 shares. The stock had previously closed at C$8.42.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Cormark downgraded Trilogy Metals from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, October 8th. TD Securities boosted 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 report on Tuesday, October 7th. BMO Capital Markets downgraded shares of Trilogy Metals from an "outperform" rating to a "market perform" rating and set a C$5.50 price target for the company. in a research note on Friday. Finally, Raymond James Financial raised shares of Trilogy Metals from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, October 7th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of C$4.50.

Trilogy Metals Stock Performance

The company has a current ratio of 60.98, a quick ratio of 5.25 and a debt-to-equity ratio of 0.12. The firm has a market cap of C$2.31 billion, a P/E ratio of -234.00 and a beta of 1.94. The company's 50-day moving average is C$3.17 and its two-hundred day moving average is C$2.43.

About Trilogy Metals

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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