Trilogy Metals (NYSEAMERICAN:TMQ) Trading Up 5.6% – Should You Buy?

Trilogy Metals Inc. (NYSEAMERICAN:TMQ)’s stock price was up 5.6% on Friday . The stock traded as high as $6.11 and last traded at $6.1150. Approximately 2,067,718 shares changed hands during mid-day trading, a decline of 50% from the average daily volume of 4,118,908 shares. The stock had previously closed at $5.79.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on TMQ shares. Cormark raised shares of Trilogy Metals from a “hold” rating to a “moderate buy” rating in a research report on Thursday, December 18th. TD Cowen restated a “hold” rating on shares of Trilogy Metals in a research note on Tuesday, October 7th. TD Securities reissued a “hold” rating on shares of Trilogy Metals in a report on Tuesday, October 7th. Raymond James Financial reaffirmed a “market perform” rating on shares of Trilogy Metals in a research report on Wednesday, January 14th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $5.50 price objective on shares of Trilogy Metals in a research report on Friday, October 10th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Trilogy Metals has an average rating of “Hold” and an average price target of $7.75.

Trilogy Metals Price Performance

The company has a market cap of $1.08 billion, a P/E ratio of -125.70 and a beta of 1.17. The stock has a 50-day moving average of $4.67 and a 200 day moving average of $3.51.

Institutional Trading of Trilogy Metals

Several large investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. raised its stake in Trilogy Metals by 120.0% during 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 in the last quarter. TSP Capital Management Group LLC boosted its position in Trilogy Metals by 17.8% in the second quarter. TSP Capital Management Group LLC now owns 6,152,500 shares of the mining company’s stock valued at $8,306,000 after buying an additional 930,000 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Trilogy Metals by 5,289.5% in the second quarter. JPMorgan Chase & Co. now owns 204,800 shares of the mining company’s stock valued at $276,000 after buying an additional 201,000 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Trilogy Metals during the second quarter worth $115,000. Finally, DLD Asset Management LP increased its holdings in shares of Trilogy Metals by 20.0% during the second quarter. DLD Asset Management LP now owns 300,000 shares of the mining company’s stock worth $405,000 after buying an additional 50,000 shares in the last quarter. 16.75% of the stock is owned by institutional investors and hedge funds.

About Trilogy Metals

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.