Trilogy Metals (TSE:TMQ) Trading 10.5% Higher – Still a Buy?

Trilogy Metals Inc. (TSE:TMQ) shot up 10.5% during trading on Wednesday . The stock traded as high as C$6.35 and last traded at C$6.34. 420,789 shares changed hands during mid-day trading, a decline of 20% from the average session volume of 527,345 shares. The stock had previously closed at C$5.74.

Wall Street Analysts Forecast Growth

TMQ has been the topic of several recent research reports. Raymond James Financial upgraded Trilogy Metals from a “hold” rating to a “moderate buy” rating in a research report on Monday, April 6th. TD Securities lowered Trilogy Metals from a “buy” rating to a “hold” rating and reduced their price target for the stock from C$8.50 to C$8.00 in a research report on Friday, February 20th. National Bank Financial reduced their price target on Trilogy Metals from C$9.50 to C$7.50 and set a “sector perform” rating on the stock in a research report on Wednesday, April 15th. Finally, Freedom Capital upgraded Trilogy Metals to a “strong-buy” rating in a research report on Thursday, March 19th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$7.00.

Trilogy Metals Price Performance

The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.25 and a current ratio of 1.46. The firm has a market capitalization of C$1.09 billion, a P/E ratio of -22.64 and a beta of 1.66. The company has a 50-day moving average price of C$5.50 and a 200-day moving average price of C$6.19.

Trilogy Metals (TSE:TMQ) last posted its quarterly earnings results on Thursday, April 2nd. The company reported C($0.05) earnings per share (EPS) for the quarter. On average, sell-side analysts predict that Trilogy Metals Inc. will post -0.07 earnings per share for the current year.

Insiders Place Their Bets

In other Trilogy Metals news, insider Olav Langelaar bought 6,000 shares of Trilogy Metals stock in a transaction on Thursday, March 19th. The shares were purchased at an average cost of C$4.64 per share, for a total transaction of C$27,840.00. Following the completion of the acquisition, the insider owned 17,000 shares in the company, valued at approximately C$78,880. The trade was a 54.55% increase in their position. Corporate insiders own 17.86% of the company’s stock.

About Trilogy Metals

Trilogy Metals Inc is a metal exploration and development company which holds a 50 percent interest in Ambler Metals LLC, which has a 100 percent interest in the UKMP in northwestern Alaska. On December 19, 2019, South32 Limited, a globally diversified mining and metals company, exercised its option to form a 50/50 joint venture with Trilogy. The UKMP is located within the Ambler Mining District which is one of the richest and most-prospective known copper-dominant districts in the world. It hosts world-class polymetallic volcanogenic massive sulphide (“VMS”) deposits that contain copper, zinc, lead, gold and silver, and carbonate replacement deposits which have been found to host high-grade copper and cobalt mineralization.