Trilogy Metals (TSE:TMQ) Stock Price Down 3.1% – Time to Sell?

Trilogy Metals Inc. (TSE:TMQ) dropped 3.1% during mid-day trading on Thursday . The company traded as low as C$4.70 and last traded at C$4.99. Approximately 674,587 shares were traded during trading, an increase of 2% from the average daily volume of 663,029 shares. The stock had previously closed at C$5.15.

Wall Street Analysts Forecast Growth

TMQ has been the topic of several research reports. National Bank Financial lifted their price objective on shares of Trilogy Metals from C$7.00 to C$9.50 in a report on Thursday, January 29th. Cormark raised Trilogy Metals from a “hold” rating to a “moderate buy” rating in a research report on Thursday, December 18th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of C$6.50.

Trilogy Metals Stock Performance

The firm’s 50 day moving average is C$6.83 and its 200 day moving average is C$5.49. The company has a debt-to-equity ratio of 0.12, a quick ratio of 5.25 and a current ratio of 60.98. The stock has a market cap of C$853.59 million, a P/E ratio of -83.17 and a beta of 2.15.

Trilogy Metals (TSE:TMQ) last announced its earnings results on Tuesday, February 17th. The company reported C($0.29) earnings per share for the quarter. Analysts anticipate that Trilogy Metals Inc. will post -0.07 EPS for the current year.

About Trilogy Metals

Trilogy Metals Inc is a metal exploration and development company which holds a 50 percent interest in Ambler Metals LLC, which has a 100 percent interest in the UKMP in northwestern Alaska. On December 19, 2019, South32 Limited, a globally diversified mining and metals company, exercised its option to form a 50/50 joint venture with Trilogy. The UKMP is located within the Ambler Mining District which is one of the richest and most-prospective known copper-dominant districts in the world. It hosts world-class polymetallic volcanogenic massive sulphide (“VMS”) deposits that contain copper, zinc, lead, gold and silver, and carbonate replacement deposits which have been found to host high-grade copper and cobalt mineralization.