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

Trilogy Metals Inc. (NYSEAMERICAN:TMQ)’s share price 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 changing hands.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TMQ. Cowen reiterated a “hold” rating on shares of Trilogy Metals in a research report on Tuesday, October 7th. Raymond James Financial raised shares of Trilogy Metals from a “hold” rating to a “moderate buy” rating in a report on Tuesday, October 7th. Cormark cut shares of Trilogy Metals from a “moderate buy” rating to a “hold” rating in a report on Wednesday, October 8th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $5.50 price target on shares of Trilogy Metals in a report on Friday, October 10th. Finally, Cantor Fitzgerald upgraded Trilogy Metals to a “buy” rating and set a $10.00 price objective on the stock in a research note on Tuesday, October 7th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $7.75.

Trilogy Metals Price Performance

The stock has a market cap of $591.68 million, a P/E ratio of -70.40 and a beta of 1.18. The firm’s fifty day moving average price is $3.99 and its two-hundred day moving average price is $2.39.

Insider Buying and Selling at Trilogy Metals

In other Trilogy Metals news, Director James Gowans sold 100,000 shares of the business’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 value of $750,000.00. Following the completion of the transaction, the director owned 234,046 shares of the company’s stock, valued at $1,755,345. The trade was a 29.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Elaine Sanders sold 449,599 shares of the 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 transaction, the chief financial officer directly owned 3,149,561 shares in the company, valued at $21,542,997.24. The trade was a 12.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,064,506 shares of company stock valued at $7,275,194 over the last quarter. Company insiders own 15.20% of the company’s stock.

Hedge Funds Weigh In On Trilogy Metals

A number of hedge funds and other institutional investors have recently modified their holdings of TMQ. Spire Wealth Management raised its holdings in shares of Trilogy Metals by 55.1% during the 3rd quarter. Spire Wealth Management now owns 18,774 shares of the mining company’s stock valued at $39,000 after buying an additional 6,669 shares in the last quarter. Compass Wealth Management LLC bought a new position in Trilogy Metals during the third quarter valued at approximately $63,000. Birchbrook Inc. raised its stake in shares of Trilogy Metals by 25.0% during the first quarter. Birchbrook Inc. now owns 50,000 shares of the mining company’s stock worth $78,000 after acquiring an additional 10,000 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Trilogy Metals during the first quarter worth approximately $83,000. Finally, XTX Topco Ltd bought a new stake in shares of Trilogy Metals in the 2nd quarter worth approximately $115,000. 16.75% of the stock is currently owned by hedge funds and other institutional investors.

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.