Trilogy Metals (NYSEAMERICAN:TMQ) Announces Quarterly Earnings Results

Trilogy Metals (NYSEAMERICAN:TMQ) released its quarterly earnings results on Wednesday. The mining company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.03), FiscalAI reports.

Trilogy Metals Price Performance

TMQ opened at $3.23 on Wednesday. Trilogy Metals has a one year low of $1.33 and a one year high of $11.29. The business has a 50 day simple moving average of $4.01 and a two-hundred day simple moving average of $4.32. The firm has a market capitalization of $557.34 million, a price-to-earnings ratio of -11.96 and a beta of 1.43.

Insider Transactions at Trilogy Metals

In related news, Director William L. Iggiagruk Hensley sold 50,000 shares of Trilogy Metals stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $4.44, for a total transaction of $222,000.00. Following the sale, the director directly owned 18,531 shares in the company, valued at $82,277.64. The trade was a 72.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 14.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Tidal Investments LLC boosted its stake in Trilogy Metals by 33.0% during the third quarter. Tidal Investments LLC now owns 3,625,129 shares of the mining company’s stock worth $7,613,000 after acquiring an additional 899,656 shares in the last quarter. Alps Advisors Inc. increased its stake in shares of Trilogy Metals by 75.0% during the fourth quarter. Alps Advisors Inc. now owns 674,396 shares of the mining company’s stock valued at $2,907,000 after purchasing an additional 288,935 shares in the last quarter. Alyeska Investment Group L.P. purchased a new position in shares of Trilogy Metals during the third quarter valued at approximately $1,050,000. Millennium Management LLC lifted its holdings in shares of Trilogy Metals by 24.8% during the third quarter. Millennium Management LLC now owns 401,668 shares of the mining company’s stock valued at $844,000 after purchasing an additional 79,719 shares during the last quarter. Finally, Two Sigma Investments LP boosted its position in shares of Trilogy Metals by 52.3% in the 3rd quarter. Two Sigma Investments LP now owns 326,721 shares of the mining company’s stock worth $686,000 after purchasing an additional 112,127 shares in the last quarter. 16.75% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on TMQ. Raymond James Financial raised Trilogy Metals from a “market perform” rating to an “outperform” rating in a report on Monday, April 6th. Freedom Capital raised Trilogy Metals to a “strong-buy” rating in a research note on Thursday, March 19th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $7.75.

Trilogy Metals Company Profile

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.