Trilogy Metals (NYSEAMERICAN:TMQ) Shares Gap Down – Time to Sell?

Trilogy Metals Inc. (NYSEAMERICAN:TMQ) gapped down prior to trading on Friday . The stock had previously closed at $3.84, but opened at $3.46. Trilogy Metals shares last traded at $3.7050, with a volume of 1,498,806 shares trading hands.

Analyst Ratings Changes

TMQ has been the subject of a number of research 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. BMO Capital Markets reissued a “market perform” rating and issued a $5.50 target price on shares of Trilogy Metals in a research note on Friday, October 10th. TD Securities restated a “hold” rating on shares of Trilogy Metals in a 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. Finally, Cowen restated a “hold” rating on shares of Trilogy Metals in a research note on Tuesday, October 7th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $7.75.

Trilogy Metals Trading Down 3.0%

The business’s 50-day simple moving average is $3.96 and its two-hundred day simple moving average is $2.37. The company has a market capitalization of $626.14 million, a PE ratio of -74.62 and a beta of 1.18.

Insider Activity

In other news, Director James Gowans sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 16th. The shares were sold at an average price of $7.50, for a total transaction of $750,000.00. Following the completion of the sale, the director owned 234,046 shares of the company’s stock, valued at approximately $1,755,345. This trade represents a 29.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Elaine Sanders sold 449,599 shares of Trilogy Metals stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $6.84, for a total transaction of $3,075,257.16. Following the completion of the sale, the chief financial officer owned 3,149,561 shares of the company’s stock, valued at approximately $21,542,997.24. This trade represents a 12.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,064,506 shares of company stock worth $7,275,194 over the last quarter. Corporate insiders own 15.20% of the company’s stock.

Institutional Trading of Trilogy Metals

Institutional investors and hedge funds have recently bought and sold shares of the company. Spire Wealth Management lifted its holdings in Trilogy Metals by 55.1% during the 3rd quarter. Spire Wealth Management now owns 18,774 shares of the mining company’s stock worth $39,000 after buying an additional 6,669 shares during the last quarter. Birchbrook Inc. raised its position in shares of Trilogy Metals by 25.0% during the 1st quarter. Birchbrook Inc. now owns 50,000 shares of the mining company’s stock valued at $78,000 after acquiring an additional 10,000 shares in the last quarter. Bank of America Corp DE lifted its stake in Trilogy Metals by 16.5% during the second quarter. Bank of America Corp DE now owns 122,095 shares of the mining company’s stock worth $165,000 after purchasing an additional 17,291 shares during the last quarter. Compass Wealth Management LLC acquired a new position in Trilogy Metals in the third quarter worth $63,000. Finally, DLD Asset Management LP increased its stake in Trilogy Metals by 20.0% during the second quarter. DLD Asset Management LP now owns 300,000 shares of the mining company’s stock valued at $405,000 after purchasing an additional 50,000 shares during the last quarter. Institutional investors and hedge funds 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.