Trilogy Metals (NYSEAMERICAN:TMQ) Shares Gap Up – Here’s Why

Trilogy Metals Inc. (NYSEAMERICAN:TMQ) shares gapped up prior to trading on Monday . The stock had previously closed at $5.04, but opened at $5.22. Trilogy Metals shares last traded at $5.07, with a volume of 1,876,051 shares trading hands.

Analyst Ratings Changes

TMQ has been the topic of several analyst reports. Cantor Fitzgerald upgraded shares of Trilogy Metals to a “buy” rating and set a $10.00 price target on the stock in a research report on Tuesday, October 7th. BMO Capital Markets restated a “market perform” rating and issued a $5.50 price target on shares of Trilogy Metals in a research note on Friday, October 10th. Cormark upgraded Trilogy Metals from a “hold” rating to a “moderate buy” rating in a research report on Thursday, December 18th. TD Cowen restated a “hold” rating on shares of Trilogy Metals in a research report on Tuesday, October 7th. Finally, TD Securities reaffirmed a “hold” rating on shares of Trilogy Metals in a research note on Tuesday, October 7th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $7.75.

Trilogy Metals Stock Down 0.1%

The firm has a 50-day moving average price of $4.94 and a two-hundred day moving average price of $3.73. The firm has a market cap of $861.69 million, a PE ratio of -100.70 and a beta of 1.18.

Institutional Trading of Trilogy Metals

Hedge funds have recently bought and sold shares of the business. Envestnet Asset Management Inc. increased its position in Trilogy Metals by 120.0% during the second quarter. Envestnet Asset Management Inc. now owns 562,080 shares of the mining company’s stock worth $759,000 after purchasing an additional 306,547 shares during the last quarter. TSP Capital Management Group LLC lifted its stake in Trilogy Metals by 17.8% during the second quarter. TSP Capital Management Group LLC now owns 6,152,500 shares of the mining company’s stock worth $8,306,000 after purchasing an additional 930,000 shares in the last quarter. GAM Holding AG purchased a new position in shares of Trilogy Metals during the third quarter worth $420,000. DLD Asset Management LP lifted its stake in Trilogy Metals by 20.0% during the 2nd quarter. DLD Asset Management LP now owns 300,000 shares of the mining company’s stock worth $405,000 after acquiring an additional 50,000 shares in the last quarter. Finally, Two Sigma Investments LP grew its position in Trilogy Metals by 52.3% in the 3rd quarter. Two Sigma Investments LP now owns 326,721 shares of the mining company’s stock valued at $686,000 after acquiring an additional 112,127 shares in the last quarter. Institutional investors and hedge funds own 16.75% of the company’s stock.

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.