Trilogy Metals (NYSEAMERICAN:TMQ) Trading Down 8.4% – Here’s Why

Trilogy Metals Inc. (NYSEAMERICAN:TMQ) shares fell 8.4% on Monday . The company traded as low as $3.98 and last traded at $3.9130. 943,447 shares were traded during trading, a decline of 78% from the average session volume of 4,199,965 shares. The stock had previously closed at $4.27.

Analyst Ratings Changes

TMQ has been the subject of a number of recent research reports. Cowen reissued a “hold” rating on shares of Trilogy Metals in a research report on Tuesday, October 7th. Raymond James Financial upgraded shares of Trilogy Metals from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, October 7th. Cormark lowered shares of Trilogy Metals from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, October 8th. TD Securities reaffirmed a “hold” rating on shares of Trilogy Metals 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. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Trilogy Metals currently has an average rating of “Hold” and a consensus price target of $7.75.

Trilogy Metals Trading Down 8.8%

The company’s 50-day moving average is $4.20 and its 200-day moving average is $2.48. The firm has a market cap of $654.71 million, a price-to-earnings ratio of -77.90 and a beta of 1.18.

Insider Buying and Selling

In other news, CFO Elaine Sanders sold 449,599 shares of the business’s stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $6.84, for a total transaction of $3,075,257.16. Following the completion of the transaction, the chief financial officer owned 3,149,561 shares of the company’s stock, valued at approximately $21,542,997.24. The trade was a 12.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Diana J. Walters sold 100,000 shares of the company’s stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $7.03, for a total value of $703,000.00. Following the sale, the director owned 51,302 shares of the company’s stock, valued at approximately $360,653.06. This represents a 66.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 1,064,506 shares of company stock worth $7,275,194. 15.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Spire Wealth Management boosted its stake in shares of Trilogy Metals by 55.1% in the 3rd quarter. Spire Wealth Management now owns 18,774 shares of the mining company’s stock valued at $39,000 after purchasing an additional 6,669 shares in the last quarter. Compass Wealth Management LLC bought a new position in Trilogy Metals in the 3rd quarter valued at approximately $63,000. Birchbrook Inc. boosted its position in Trilogy Metals by 25.0% in the first quarter. Birchbrook Inc. now owns 50,000 shares of the mining company’s stock valued at $78,000 after buying an additional 10,000 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Trilogy Metals during the first quarter worth $83,000. Finally, Qube Research & Technologies Ltd acquired a new position in shares of Trilogy Metals during the third quarter worth $105,000. Institutional investors own 16.75% of the company’s stock.

About Trilogy Metals

Trilogy Metals Inc, a base metals exploration company, engages in the exploration and development of mineral properties in the United States. The company explores for copper, cobalt, lead, zinc, gold, and silver properties. It principally holds interests in the Upper Kobuk mineral projects that include the Arctic, which contains polymetallic volcanogenic massive sulfide deposits; and Bornite that contains carbonate-hosted copper – cobalt deposits covering an area of approximately 448,217 acres located in the Ambler mining district in Northwest Alaska.