Trilogy Metals (NYSEAMERICAN:TMQ) Shares Gap Up – Should You Buy?

Trilogy Metals Inc. (NYSEAMERICAN:TMQ) 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.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TMQ. Cormark raised Trilogy Metals from a “hold” rating to a “moderate buy” rating in a research note on Thursday, December 18th. TD Securities restated a “hold” rating on shares of Trilogy Metals in a research note on Tuesday, October 7th. Raymond James Financial reaffirmed a “market perform” rating on shares of Trilogy Metals in a research report on Wednesday, January 14th. BMO Capital Markets reiterated a “market perform” rating and set a $5.50 target price on shares of Trilogy Metals in a research note on Friday, October 10th. Finally, TD Cowen restated a “hold” rating on shares of Trilogy Metals in a research report on Tuesday, October 7th. 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.com, the company currently has a consensus rating of “Hold” and a consensus target price of $7.75.

Trilogy Metals Price Performance

The firm has a market capitalization of $861.69 million, a price-to-earnings ratio of -100.70 and a beta of 1.18. The business has a fifty day moving average price of $4.94 and a two-hundred day moving average price of $3.73.

Hedge Funds Weigh In On Trilogy Metals

A number of institutional investors have recently modified their holdings of the stock. Silverlake Wealth Management LLC acquired a new position in shares of Trilogy Metals in the 4th quarter valued at about $53,000. Spire Wealth Management raised its position in Trilogy Metals by 55.1% during the third quarter. Spire Wealth Management now owns 18,774 shares of the mining company’s stock valued at $39,000 after acquiring an additional 6,669 shares in the last quarter. Pictet Asset Management Holding SA acquired a new position in Trilogy Metals in the fourth quarter valued at approximately $84,000. Choreo LLC purchased a new stake in Trilogy Metals in the 4th quarter worth approximately $97,000. Finally, Compass Wealth Management LLC purchased a new stake in Trilogy Metals in the 3rd quarter worth approximately $63,000. Hedge funds and other institutional investors 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.