Old West Investment Management LLC Invests $21.39 Million in Trilogy Metals Inc. $TMQ

Old West Investment Management LLC purchased a new stake in Trilogy Metals Inc. (NYSEAMERICAN:TMQ) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 6,092,657 shares of the mining company’s stock, valued at approximately $21,385,000. Trilogy Metals accounts for about 2.3% of Old West Investment Management LLC’s holdings, making the stock its 10th biggest holding. Old West Investment Management LLC owned about 3.53% of Trilogy Metals at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Walleye Capital LLC raised its position in Trilogy Metals by 271.7% in the first quarter. Walleye Capital LLC now owns 945,678 shares of the mining company’s stock worth $3,395,000 after acquiring an additional 691,267 shares in the last quarter. Goehring & Rozencwajg Associates LLC lifted its holdings in Trilogy Metals by 22.7% in the first quarter. Goehring & Rozencwajg Associates LLC now owns 1,728,153 shares of the mining company’s stock valued at $6,221,000 after acquiring an additional 319,949 shares during the period. Electrum Group LLC purchased a new stake in shares of Trilogy Metals during the 4th quarter worth $136,216,000. Private Advisor Group LLC acquired a new position in shares of Trilogy Metals during the 1st quarter worth $732,000. Finally, Rockefeller Capital Management L.P. grew its stake in shares of Trilogy Metals by 569.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 87,049 shares of the mining company’s stock worth $375,000 after purchasing an additional 74,049 shares during the period. 16.75% of the stock is currently owned by hedge funds and other institutional investors.

Trilogy Metals Stock Performance

Shares of NYSEAMERICAN TMQ opened at $3.74 on Monday. The stock has a market cap of $645.52 million, a price-to-earnings ratio of -12.47 and a beta of 1.46. Trilogy Metals Inc. has a 52 week low of $1.50 and a 52 week high of $11.29. The company’s 50-day moving average price is $3.44 and its 200 day moving average price is $3.96.

Trilogy Metals (NYSEAMERICAN:TMQ) last announced its earnings results on Wednesday, July 8th. The mining company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.03). During the same period in the prior year, the business posted ($0.01) EPS. As a group, research analysts expect that Trilogy Metals Inc. will post -0.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TMQ has been the subject of several recent analyst reports. Freedom Capital cut shares of Trilogy Metals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 5th. UBS Group lowered shares of Trilogy Metals to a “hold” rating in a research report on Wednesday, August 5th. Finally, Zacks Research cut shares of Trilogy Metals from a “hold” rating to a “strong sell” rating in a report on Monday, August 3rd. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Trilogy Metals has a consensus rating of “Hold” and a consensus target price 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.