Trilogy Metals (NYSEAMERICAN:TMQ) Stock Price Crosses Below 50 Day Moving Average – Should You Sell?

Trilogy Metals Inc. (NYSEAMERICAN:TMQ) shares passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $4.81 and traded as low as $4.38. Trilogy Metals shares last traded at $4.45, with a volume of 3,139,080 shares changing hands.

Analyst Ratings Changes

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

Trilogy Metals Stock Performance

The business’s fifty day moving average is $4.81 and its 200-day moving average is $2.87. The firm has a market cap of $761.26 million, a P/E ratio of -89.00 and a beta of 1.16.

Insider Activity

In other news, Director James Gowans sold 100,000 shares of Trilogy Metals stock in a transaction on Thursday, October 16th. The shares were 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Diana J. Walters sold 100,000 shares of the business’s stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $7.03, for a total transaction of $703,000.00. Following the completion of the sale, the director directly owned 51,302 shares in the company, valued at approximately $360,653.06. This represents a 66.09% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 1,064,506 shares of company stock valued at $7,275,194. 15.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Trilogy Metals

A number of institutional investors have recently made changes to their positions in TMQ. Envestnet Asset Management Inc. lifted its stake in shares of Trilogy Metals by 120.0% in the second quarter. Envestnet Asset Management Inc. now owns 562,080 shares of the mining company’s stock worth $759,000 after acquiring an additional 306,547 shares during the period. TSP Capital Management Group LLC increased its position in Trilogy Metals by 17.8% during the 2nd quarter. TSP Capital Management Group LLC now owns 6,152,500 shares of the mining company’s stock valued at $8,306,000 after purchasing an additional 930,000 shares during the period. DLD Asset Management LP bought a new position in Trilogy Metals during the 1st quarter worth approximately $388,000. Old West Investment Management LLC lifted its position in shares of Trilogy Metals by 61.1% in the 1st quarter. Old West Investment Management LLC now owns 12,611,879 shares of the mining company’s stock worth $19,611,000 after purchasing an additional 4,781,670 shares during the period. Finally, Birchbrook Inc. lifted its position in shares of Trilogy Metals by 25.0% in the 1st quarter. Birchbrook Inc. now owns 50,000 shares of the mining company’s stock worth $78,000 after purchasing an additional 10,000 shares during the period. Institutional investors own 16.75% of the company’s stock.

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.