Trilogy Metals (NYSEAMERICAN:TMQ) Stock Price Up 7.4% – What’s Next?

Shares of Trilogy Metals Inc. (NYSEAMERICAN:TMQ) shot up 7.4% during trading on Monday. The stock traded as high as $2.34 and last traded at $2.31. Approximately 1,030,305 shares traded hands during mid-day trading, a decline of 20% from the average daily volume of 1,287,485 shares. The stock had previously closed at $2.15.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Zacks Research upgraded shares of Trilogy Metals from a “strong sell” rating to a “hold” rating in a report on Monday, September 7th. Freedom Capital lowered Trilogy Metals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 5th. Finally, UBS Group cut Trilogy Metals to a “hold” rating in a report on Wednesday, August 5th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy”.

Trilogy Metals Stock Performance

The company has a market capitalization of $379.70 million, a PE ratio of -7.24 and a beta of 1.52. The firm has a fifty day simple moving average of $2.79 and a 200-day simple moving average of $3.68.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in TMQ. Electrum Group LLC bought a new position in shares of Trilogy Metals in the 2nd quarter worth about $110,932,641. Old West Investment Management LLC acquired a new stake in Trilogy Metals in the second quarter worth $21,385,000. Walleye Capital LLC lifted its position in Trilogy Metals by 271.7% in the 1st quarter. Walleye Capital LLC now owns 945,678 shares of the mining company’s stock valued at $3,395,000 after purchasing an additional 691,267 shares during the last quarter. BlackRock Inc. acquired a new position in shares of Trilogy Metals during the second quarter worth approximately $1,718,000. Finally, Moore Capital Management LP bought a new position in shares of Trilogy Metals in the second quarter worth $1,375,000. Institutional investors and hedge funds own 16.75% of the company’s stock.

About Trilogy Metals

Trilogy Metals is a mineral exploration and development company focused on the Ambler mining district in northwestern Alaska. The company is advancing copper-focused projects and is not a mining producer. Through Ambler Metals, a 50-50 joint venture with South32, Trilogy holds interests in the Upper Kobuk Mineral Projects. These include the Arctic deposit, which contains copper, zinc, lead, gold and silver, and the Bornite deposit, which is primarily a copper project. Trilogy’s activities center on exploring and developing these deposits and the surrounding mineral district.