Insider Selling: Trilogy Metals (NYSEAMERICAN:TMQ) CFO Sells $3,075,257.16 in Stock

Trilogy Metals Inc. (NYSEAMERICAN:TMQ) CFO Elaine Sanders sold 449,599 shares of Trilogy Metals stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $6.84, for a total transaction of $3,075,257.16. Following the completion of the transaction, the chief financial officer owned 3,149,561 shares of the company’s stock, valued at $21,542,997.24. This trade represents a 12.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Trilogy Metals Trading Down 9.5%

Shares of NYSEAMERICAN TMQ opened at $5.93 on Monday. The stock has a market cap of $974.36 million, a P/E ratio of -118.60 and a beta of 1.18. The business’s fifty day simple moving average is $2.20 and its 200-day simple moving average is $1.73. Trilogy Metals Inc. has a 12-month low of $0.49 and a 12-month high of $7.98.

Trilogy Metals (NYSEAMERICAN:TMQ) last announced its quarterly earnings data on Thursday, July 10th. The mining company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). On average, equities analysts forecast that Trilogy Metals Inc. will post -0.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TMQ. BMO Capital Markets reaffirmed a “market perform” rating and set a $5.50 price objective on shares of Trilogy Metals in a research report on Friday. Cowen restated a “hold” rating on shares of Trilogy Metals in a research report on Tuesday, October 7th. TD Securities restated a “hold” rating on shares of Trilogy Metals in a research note on Tuesday, October 7th. Cantor Fitzgerald upgraded shares of Trilogy Metals to a “buy” rating and set a $10.00 price target on the stock in a research note on Tuesday, October 7th. Finally, Raymond James Financial raised shares of Trilogy Metals from a “hold” rating to a “moderate buy” rating in a report on Tuesday, October 7th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $7.75.

Hedge Funds Weigh In On Trilogy Metals

A number of large investors have recently made changes to their positions in the stock. Birchbrook Inc. lifted its stake in shares of Trilogy Metals by 25.0% in the first quarter. Birchbrook Inc. now owns 50,000 shares of the mining company’s stock valued at $78,000 after purchasing an additional 10,000 shares during the period. Virtu Financial LLC acquired a new position in Trilogy Metals during the first quarter worth about $83,000. XTX Topco Ltd purchased a new position in Trilogy Metals in the second quarter valued at about $115,000. Jane Street Group LLC acquired a new stake in shares of Trilogy Metals during the 2nd quarter valued at approximately $154,000. Finally, Bank of America Corp DE boosted its stake in shares of Trilogy Metals by 16.5% during the 2nd quarter. Bank of America Corp DE now owns 122,095 shares of the mining company’s stock worth $165,000 after acquiring an additional 17,291 shares in the last quarter. Hedge funds and other institutional investors own 16.75% of the company’s stock.

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.