Trilogy Metals (NYSEAMERICAN:TMQ) Stock Price Up 5.6% – Should You Buy?

Shares of Trilogy Metals Inc. (NYSEAMERICAN:TMQ) shot up 5.6% on Friday . The company traded as high as $6.11 and last traded at $6.1150. 2,067,718 shares were traded during trading, a decline of 50% from the average session volume of 4,118,908 shares. The stock had previously closed at $5.79.

Analyst Ratings Changes

Several equities research analysts have issued reports on TMQ shares. Raymond James Financial reaffirmed a “market perform” rating on shares of Trilogy Metals in a report on Wednesday, January 14th. TD Securities restated a “hold” rating on shares of Trilogy Metals in a research note on Tuesday, October 7th. BMO Capital Markets reaffirmed a “market perform” rating and set a $5.50 target price on shares of Trilogy Metals in a report on Friday, October 10th. TD Cowen reissued a “hold” rating on shares of Trilogy Metals in a report on Tuesday, October 7th. Finally, Cormark upgraded shares of Trilogy Metals from a “hold” rating to a “moderate buy” rating in a research report on Thursday, December 18th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $7.75.

Trilogy Metals Price Performance

The business’s 50-day moving average is $4.72 and its 200 day moving average is $3.56. The firm has a market capitalization of $1.06 billion, a P/E ratio of -124.20 and a beta of 1.17.

Institutional Investors Weigh In On Trilogy Metals

Institutional investors have recently made changes to their positions in the stock. Spire Wealth Management increased its stake in Trilogy Metals by 55.1% during the 3rd quarter. Spire Wealth Management now owns 18,774 shares of the mining company’s stock worth $39,000 after acquiring an additional 6,669 shares during the period. Silverlake Wealth Management LLC bought a new position in shares of Trilogy Metals in the fourth quarter worth $53,000. Compass Wealth Management LLC bought a new position in shares of Trilogy Metals in the third quarter worth $63,000. Choreo LLC acquired a new position in Trilogy Metals in the fourth quarter valued at about $97,000. Finally, Qube Research & Technologies Ltd bought a new stake in Trilogy Metals during the third quarter worth about $105,000. 16.75% of the stock is currently owned by institutional investors.

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.