Electrum Group LLC Purchases New Stake in Trilogy Metals Inc. $TMQ

Electrum Group LLC purchased a new stake in shares of Trilogy Metals Inc. (NYSEAMERICAN:TMQ) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 31,604,741 shares of the mining company’s stock, valued at approximately $136,216,000. Trilogy Metals comprises 11.9% of Electrum Group LLC’s holdings, making the stock its 2nd biggest holding. Electrum Group LLC owned approximately 18.47% of Trilogy Metals as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. State of Wyoming bought a new position in Trilogy Metals in the 4th quarter worth $32,000. Leonteq Securities AG bought a new position in Trilogy Metals in the 4th quarter worth $43,000. Tradition Wealth Management LLC bought a new position in Trilogy Metals in the 4th quarter worth $43,000. Silverlake Wealth Management LLC bought a new position in Trilogy Metals in the 4th quarter worth $53,000. Finally, Compass Wealth Management LLC bought a new position in Trilogy Metals in the 3rd quarter worth $63,000. 16.75% of the stock is currently owned by institutional investors.

Trilogy Metals Price Performance

Shares of Trilogy Metals stock opened at $3.74 on Wednesday. The company has a 50-day moving average of $4.20 and a 200 day moving average of $4.43. The firm has a market cap of $645.34 million, a price-to-earnings ratio of -13.85 and a beta of 1.37. Trilogy Metals Inc. has a 1 year low of $1.22 and a 1 year high of $11.29.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TMQ. TD Cowen upgraded shares of Trilogy Metals from a “hold” rating to a “buy” rating in a report on Friday, February 20th. Freedom Capital upgraded shares of Trilogy Metals to a “strong-buy” rating in a report on Thursday, March 19th. Raymond James Financial upgraded shares of Trilogy Metals from a “market perform” rating to an “outperform” rating in a report on Monday, April 6th. Finally, TD Securities upgraded shares of Trilogy Metals from a “hold” rating to a “buy” rating in a report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $7.75.

Insider Activity

In related news, Director William L. Iggiagruk Hensley sold 50,000 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $4.44, for a total value of $222,000.00. Following the completion of the transaction, the director directly owned 18,531 shares in the company, valued at $82,277.64. This trade represents a 72.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 14.60% of the stock is currently owned by insiders.

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.