Trilogy Metals (NYSEAMERICAN:TMQ) Stock Passes Below 50-Day Moving Average – What’s Next?

Trilogy Metals Inc. (NYSEAMERICAN:TMQ)’s stock price passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $3.70 and traded as low as $3.10. Trilogy Metals shares last traded at $3.16, with a volume of 1,177,159 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Raymond James Financial raised Trilogy Metals from a “market perform” rating to an “outperform” rating in a report on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Trilogy Metals has an average rating of “Buy” and an average target price of $7.75.

Trilogy Metals Stock Performance

The company has a market cap of $521.25 million, a PE ratio of -10.07 and a beta of 1.43. The stock has a 50 day moving average of $3.67 and a 200-day moving average of $4.19.

Trilogy Metals (NYSEAMERICAN:TMQ) last issued its quarterly earnings results on Wednesday, July 8th. The mining company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.03). During the same period in the prior year, the business earned ($0.01) earnings per share. Equities research analysts forecast that Trilogy Metals Inc. will post -0.05 EPS for the current year.

Insider Activity at Trilogy Metals

In related news, Director William L. Iggiagruk Hensley sold 50,000 shares of Trilogy Metals stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $4.44, for a total transaction of $222,000.00. Following the completion of the sale, the director owned 18,531 shares of the company’s stock, valued at $82,277.64. The trade was a 72.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 14.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Trilogy Metals

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd acquired a new stake in Trilogy Metals during the 4th quarter valued at approximately $27,000. State of Wyoming purchased a new stake in shares of Trilogy Metals in the 4th quarter valued at $32,000. Tradition Wealth Management LLC acquired a new stake in shares of Trilogy Metals in the fourth quarter worth $43,000. Leonteq Securities AG acquired a new stake in shares of Trilogy Metals in the fourth quarter worth $43,000. Finally, Captrust Financial Advisors purchased a new position in shares of Trilogy Metals during the fourth quarter worth $57,000. 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 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.