Trilogy Metals (NYSEAMERICAN:TMQ) Stock Price Up 7.4% – Here’s What Happened

Trilogy Metals Inc. (NYSEAMERICAN:TMQ) was up 7.4% during trading on Monday. The stock traded as high as $2.34 and last traded at $2.31. 1,030,305 shares traded hands during mid-day trading, a decline of 20% from the average daily volume of 1,287,485 shares. The stock had previously closed at $2.15.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TMQ. Freedom Capital lowered shares of Trilogy Metals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 5th. Zacks Research raised shares of Trilogy Metals from a “strong sell” rating to a “hold” rating in a report on Monday, September 7th. Finally, UBS Group downgraded shares of Trilogy Metals to a “hold” rating in a research report on Wednesday, August 5th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

Trilogy Metals Price Performance

The stock has a 50-day simple moving average of $2.82 and a 200 day simple moving average of $3.70. The company has a market capitalization of $417.67 million, a PE ratio of -7.97 and a beta of 1.52.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Trilogy Metals during the 3rd quarter valued at about $37,000. Sowell Financial Services LLC acquired a new position in Trilogy Metals during the third quarter worth about $31,000. Engineers Gate Manager LP acquired a new position in Trilogy Metals during the second quarter worth about $287,000. Squarepoint Ops LLC lifted its holdings in shares of Trilogy Metals by 29.3% in the second quarter. Squarepoint Ops LLC now owns 21,151 shares of the mining company’s stock valued at $74,000 after purchasing an additional 4,789 shares in the last quarter. Finally, Moore Capital Management LP purchased a new stake in shares of Trilogy Metals in the second quarter valued at about $1,375,000. Institutional investors and hedge funds own 16.75% of the company’s stock.

Trilogy Metals Company Profile

Trilogy Metals Inc is a mineral exploration and development company focused on advancing copper and other base- and precious-metal projects in Alaska. The company’s principal assets are located in the Ambler mining district, a prospective mineral region in northwestern Alaska.

Trilogy’s Upper Kobuk Mineral Projects include the Arctic copper-zinc-lead-gold-silver deposit and the Bornite copper-cobalt deposit. Through the Ambler Metals joint venture, Trilogy is pursuing exploration, resource evaluation, engineering, permitting and other development activities related to these projects.