Trilogy Metals (NYSEAMERICAN:TMQ) Upgraded at Cormark

Cormark upgraded shares of Trilogy Metals (NYSEAMERICAN:TMQ) from a hold rating to a moderate buy rating in a report released on Thursday,Zacks.com reports.

TMQ has been the subject of several other reports. TD Securities reissued a “hold” rating on shares of Trilogy Metals in a report on Tuesday, October 7th. Cowen reissued a “hold” rating on shares of Trilogy Metals in a research note on Tuesday, October 7th. BMO Capital Markets restated a “market perform” rating and set a $5.50 price objective on shares of Trilogy Metals in a research report on Friday, October 10th. Raymond James Financial raised shares of Trilogy Metals from a “hold” rating to a “moderate buy” rating in a report on Tuesday, October 7th. Finally, Cantor Fitzgerald upgraded Trilogy Metals to a “buy” rating and set a $10.00 price target for the company in a research note on Tuesday, October 7th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $7.75.

Trilogy Metals Stock Performance

NYSEAMERICAN TMQ opened at $4.65 on Thursday. The business’s fifty day moving average is $4.79 and its 200 day moving average is $2.91. Trilogy Metals has a fifty-two week low of $1.06 and a fifty-two week high of $11.29. The company has a market capitalization of $795.48 million, a PE ratio of -93.00 and a beta of 1.16.

Insider Activity

In other news, Director James Gowans sold 100,000 shares of Trilogy Metals stock in a transaction dated Thursday, October 16th. The stock was sold at an average price of $7.50, for a total value of $750,000.00. Following the sale, the director directly owned 234,046 shares of the company’s stock, valued at approximately $1,755,345. The trade was a 29.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Diana J. Walters sold 100,000 shares of the business’s stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $7.03, for a total value of $703,000.00. Following the completion of the sale, the director owned 51,302 shares in the company, 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. Over the last quarter, insiders have sold 1,064,506 shares of company stock valued at $7,275,194. 15.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Trilogy Metals

Several large investors have recently added to or reduced their stakes in TMQ. Envestnet Asset Management Inc. raised its holdings in Trilogy Metals by 120.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 562,080 shares of the mining company’s stock valued at $759,000 after buying an additional 306,547 shares during the period. TSP Capital Management Group LLC raised its stake in shares of Trilogy Metals by 17.8% in the second quarter. TSP Capital Management Group LLC now owns 6,152,500 shares of the mining company’s stock valued at $8,306,000 after acquiring an additional 930,000 shares during the period. DLD Asset Management LP purchased a new stake in shares of Trilogy Metals in the first quarter valued at $388,000. Old West Investment Management LLC lifted its holdings in shares of Trilogy Metals by 61.1% in the 1st quarter. Old West Investment Management LLC now owns 12,611,879 shares of the mining company’s stock worth $19,611,000 after acquiring an additional 4,781,670 shares during the last quarter. Finally, Birchbrook Inc. boosted its stake 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 worth $78,000 after purchasing an additional 10,000 shares during the period. 16.75% of the stock is owned by institutional investors.

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.