Trilogy Metals (NYSEAMERICAN:TMQ) Director James Gowans Sells 100,000 Shares of Stock

Trilogy Metals Inc. (NYSEAMERICAN:TMQ) Director James Gowans sold 100,000 shares of Trilogy Metals stock in a transaction that occurred on Thursday, October 16th. The stock was sold at an average price of $7.50, for a total transaction of $750,000.00. Following the transaction, the director owned 234,046 shares in the company, valued at approximately $1,755,345. The trade was a 29.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Trilogy Metals Stock Performance

NYSEAMERICAN TMQ opened at $6.46 on Friday. Trilogy Metals Inc. has a twelve month low of $0.55 and a twelve month high of $11.29. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of -129.20 and a beta of 1.18. The firm’s 50 day moving average price is $2.82 and its two-hundred day moving average price is $1.95.

Institutional Investors Weigh In On Trilogy Metals

A number of institutional investors have recently modified their holdings of TMQ. Birchbrook Inc. boosted its stake 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 buying an additional 10,000 shares during the period. Virtu Financial LLC acquired a new stake in shares of Trilogy Metals in the 1st quarter valued at $83,000. XTX Topco Ltd acquired a new stake in shares of Trilogy Metals in the 2nd quarter valued at $115,000. Jane Street Group LLC acquired a new stake in shares of Trilogy Metals in the 2nd quarter valued at $154,000. Finally, Bank of America Corp DE lifted its stake in shares of Trilogy Metals by 16.5% in the 2nd quarter. Bank of America Corp DE now owns 122,095 shares of the mining company’s stock valued at $165,000 after purchasing an additional 17,291 shares during the last quarter. Institutional investors and hedge funds own 16.75% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on TMQ. Cantor Fitzgerald upgraded shares of Trilogy Metals to a “buy” rating and set a $10.00 price objective on the stock in a research report on Tuesday, October 7th. Cormark cut shares of Trilogy Metals from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, October 8th. TD Securities reiterated a “hold” rating on shares of Trilogy Metals in a research report on Tuesday, October 7th. Cowen reissued a “hold” rating on shares of Trilogy Metals in a research note on Tuesday, October 7th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $5.50 target price on shares of Trilogy Metals in a research note on Friday, October 10th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Trilogy Metals currently has an average rating of “Hold” and a consensus target price of $7.75.

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.