Trilogy Metals (NYSEAMERICAN:TMQ) Trading Down 7.1% – Here’s Why

Trilogy Metals Inc. (NYSEAMERICAN:TMQ) dropped 7.1% on Tuesday . The company traded as low as $5.87 and last traded at $6.0570. Approximately 4,153,826 shares were traded during trading, a decline of 21% from the average daily volume of 5,243,067 shares. The stock had previously closed at $6.52.

Analyst Upgrades and Downgrades

TMQ has been the topic of several recent research reports. Cantor Fitzgerald raised shares of Trilogy Metals to a “buy” rating and set a $10.00 price target on the stock in a research report on Tuesday, October 7th. Raymond James Financial reissued a “market perform” rating on shares of Trilogy Metals in a research note on Wednesday, January 14th. TD Cowen reaffirmed a “hold” rating on shares of Trilogy Metals in a research report on Tuesday, October 7th. BMO Capital Markets reiterated a “market perform” rating and issued a $5.50 price objective on shares of Trilogy Metals in a research report on Friday, October 10th. Finally, TD Securities reissued a “hold” rating on shares of Trilogy Metals in a research note on Tuesday, October 7th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Trilogy Metals presently has a consensus rating of “Hold” and a consensus target price of $7.75.

Trilogy Metals Stock Up 4.5%

The stock has a 50 day simple moving average of $4.78 and a 200 day simple moving average of $3.61. The company has a market cap of $1.17 billion, a price-to-earnings ratio of -136.08 and a beta of 1.17.

Institutional Investors Weigh In On Trilogy Metals

Large investors have recently added to or reduced their stakes in the company. Silverlake Wealth Management LLC acquired a new position in Trilogy Metals in the 4th quarter worth $53,000. Spire Wealth Management lifted its stake in shares of Trilogy Metals by 55.1% in the third quarter. Spire Wealth Management now owns 18,774 shares of the mining company’s stock worth $39,000 after acquiring an additional 6,669 shares in the last quarter. Choreo LLC acquired a new stake in Trilogy Metals during the 4th quarter valued at approximately $97,000. Compass Wealth Management LLC acquired a new stake in Trilogy Metals during the 3rd quarter valued at approximately $63,000. Finally, Qube Research & Technologies Ltd purchased a new stake in Trilogy Metals during the 3rd quarter worth approximately $105,000. 16.75% of the stock is owned by institutional investors and hedge funds.

About Trilogy Metals

Trilogy Metals Inc is a mineral exploration and development company focused on advancing high‐value copper, zinc, lead, gold and silver projects in northwestern Alaska. The company’s flagship asset lies within the Ambler mining district, where it has assembled over 100,000 acres of mineral rights. Through systematic exploration programs, Trilogy Metals seeks to delineate and expand polymetallic deposits in one of the world’s richest base and precious metal regions.

The centerpiece of Trilogy’s portfolio is the Upper Kobuk Mineral Projects (UKMP), which includes the Arctic copper‐zinc‐lead‐gold‐silver deposit and the Bornite copper deposit.