Trilogy Metals (NYSEAMERICAN:TMQ) Shares Gap Down – What’s Next?

Trilogy Metals Inc. (NYSEAMERICAN:TMQ) shares gapped down before the market opened on Tuesday . The stock had previously closed at $4.22, but opened at $3.90. Trilogy Metals shares last traded at $3.6150, with a volume of 1,695,462 shares changing hands.

Analyst Ratings Changes

Several analysts have recently weighed in on TMQ shares. Raymond James Financial reissued a “market perform” rating on shares of Trilogy Metals in a report on Wednesday, January 14th. Cormark upgraded shares of Trilogy Metals from a “hold” rating to a “moderate buy” rating in a research note on Thursday, December 18th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $7.75.

Trilogy Metals Stock Down 2.9%

The stock has a market capitalization of $626.37 million, a P/E ratio of -14.64 and a beta of 1.18. The business has a 50-day simple moving average of $4.99 and a two-hundred day simple moving average of $3.96.

Institutional Trading of Trilogy Metals

Large investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd bought a new position in shares of Trilogy Metals in the fourth quarter valued at approximately $27,000. State of Wyoming acquired a new position in Trilogy Metals in the fourth quarter worth $32,000. Spire Wealth Management boosted its stake in Trilogy Metals by 55.1% in the third quarter. Spire Wealth Management now owns 18,774 shares of the mining company’s stock worth $39,000 after purchasing an additional 6,669 shares in the last quarter. Leonteq Securities AG bought a new stake in shares of Trilogy Metals during the fourth quarter worth $43,000. Finally, Tradition Wealth Management LLC acquired a new stake in shares of Trilogy Metals in the fourth quarter valued at $43,000. 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.