Trilogy Metals (NYSEAMERICAN:TMQ) Stock Price Passes Above 50 Day Moving Average - Here's Why
Trilogy Metals Inc. (NYSEAMERICAN:TMQ) shares surpassed their 50-day moving average of $3.87, trading at $3.93 with a volume of nearly 4 million shares. Analysts have mixed ratings, with Raymond James upgrading to "moderate buy" and Cantor Fitzgerald setting a $10 target. Insider sales totaled over $7 million last quarter, while institutional ownership stands at 16.75%. The company focuses on base metals exploration in the U.S., particularly in the Upper Kobuk mineral projects.
Shares of Trilogy Metals Inc. (NYSEAMERICAN:TMQ - Get Free Report) passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $3.87 and traded as high as $3.94. Trilogy Metals shares last traded at $3.93, with a volume of 3,996,872 shares trading hands.
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Wall Street Analyst Weigh In
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TMQ has been the subject of several analyst reports. Raymond James Financial raised 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. BMO Capital Markets reaffirmed a "market perform" rating and set a $5.50 target price on shares of Trilogy Metals in a research note on Friday, October 10th. Cormark cut shares of Trilogy Metals from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, October 8th. Finally, Cantor Fitzgerald raised shares of Trilogy Metals to a "buy" rating and set a $10.00 price target for the company in a research report on Tuesday, October 7th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $7.75.
View Our Latest Report on TMQ
Trilogy Metals Price Performance
The firm's 50-day moving average price is $3.87 and its 200-day moving average price is $2.35. The stock has a market cap of $660.59 million, a P/E ratio of -78.60 and a beta of 1.18.
Insider Transactions at Trilogy Metals
In related news, Director William L. Iggiagruk Hensley sold 100,000 shares of the stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $6.39, for a total transaction of $639,000.00. Following the sale, the director owned 43,638 shares in the company, valued at approximately $278,846.82. This represents a 69.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director William Beckwith Hayden sold 200,000 shares of the stock in a transaction on Thursday, October 9th. The shares were sold at an average price of $6.61, for a total transaction of $1,322,000.00. Following the completion of the sale, the director directly owned 382,685 shares in the company, valued at approximately $2,529,547.85. This represents a 34.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,064,506 shares of company stock worth $7,275,194 in the last quarter. Company insiders own 15.20% of the company's stock.
Institutional Investors Weigh In On Trilogy Metals
A number of institutional investors and hedge funds have recently added to or reduced their stakes in TMQ. Old West Investment Management LLC grew its position in shares of Trilogy Metals by 61.1% during the 1st quarter. Old West Investment Management LLC now owns 12,611,879 shares of the mining company's stock worth $19,611,000 after buying an additional 4,781,670 shares in the last quarter. TSP Capital Management Group LLC grew its position in Trilogy Metals by 9.1% during the 3rd quarter. TSP Capital Management Group LLC now owns 6,715,000 shares of the mining company's stock worth $14,102,000 after purchasing an additional 562,500 shares during the last quarter. Goehring & Rozencwajg Associates LLC increased its position in shares of Trilogy Metals by 4.6% in the 3rd quarter. Goehring & Rozencwajg Associates LLC now owns 1,338,321 shares of the mining company's stock valued at $2,845,000 after acquiring an additional 58,812 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of Trilogy Metals by 80.3% in the third quarter. Envestnet Asset Management Inc. now owns 1,013,517 shares of the mining company's stock worth $2,128,000 after purchasing an additional 451,437 shares during the last quarter. Finally, Bornite Capital Management LP lifted its holdings in shares of Trilogy Metals by 42.9% during the first quarter. Bornite Capital Management LP now owns 1,000,000 shares of the mining company's stock worth $1,550,000 after purchasing an additional 300,000 shares during the period. Institutional investors own 16.75% of the company's stock.
Trilogy Metals Company Profile
(Get Free Report)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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