Trilogy Metals (NYSEAMERICAN:TMQ) Trading 12% Higher – Should You Buy?

Trilogy Metals Inc. (NYSEAMERICAN:TMQ) shares were up 12% on Monday . The company traded as high as $3.98 and last traded at $3.9430. Approximately 2,321,841 shares were traded during trading, a decline of 43% from the average daily volume of 4,080,610 shares. The stock had previously closed at $3.52.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. TD Securities reaffirmed a “hold” rating on shares of Trilogy Metals in a report on Tuesday, October 7th. Cormark downgraded shares of Trilogy Metals from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, October 8th. Cowen restated a “hold” rating on shares of Trilogy Metals in a research report on Tuesday, October 7th. Cantor Fitzgerald raised Trilogy Metals to a “buy” rating and set a $10.00 target price for the company in a research note on Tuesday, October 7th. Finally, Raymond James Financial upgraded shares of Trilogy Metals from a “hold” rating to a “moderate buy” rating in a report on Tuesday, October 7th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Trilogy Metals presently has a consensus rating of “Hold” and a consensus price target of $7.75.

Trilogy Metals Stock Up 13.5%

The firm has a 50-day moving average price of $3.99 and a 200 day moving average price of $2.40. The firm has a market capitalization of $671.35 million, a PE ratio of -79.60 and a beta of 1.18.

Insider Buying and Selling at Trilogy Metals

In other news, CFO Elaine Sanders sold 449,599 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer owned 3,149,561 shares in the company, valued at $21,542,997.24. This represents a 12.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Diana J. Walters sold 100,000 shares of the stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $7.03, for a total transaction of $703,000.00. Following the transaction, the director directly owned 51,302 shares of the company’s stock, valued at $360,653.06. This represents a 66.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 1,064,506 shares of company stock worth $7,275,194. 15.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Trilogy Metals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TMQ. Spire Wealth Management grew its position in shares of Trilogy Metals by 55.1% during the third quarter. Spire Wealth Management now owns 18,774 shares of the mining company’s stock worth $39,000 after buying an additional 6,669 shares in the last quarter. Compass Wealth Management LLC bought a new stake in shares of Trilogy Metals in the 3rd quarter valued at approximately $63,000. Birchbrook Inc. raised its position in shares of Trilogy Metals by 25.0% during the 1st quarter. Birchbrook Inc. now owns 50,000 shares of the mining company’s stock valued at $78,000 after acquiring an additional 10,000 shares in the last quarter. Virtu Financial LLC bought a new position in Trilogy Metals during the first quarter worth $83,000. Finally, XTX Topco Ltd acquired a new position in Trilogy Metals in the second quarter worth $115,000. Hedge funds and other 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.