Trilogy Metals Inc. $TMQ Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its stake in Trilogy Metals Inc. (NYSEAMERICAN:TMQ) by 80.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,013,517 shares of the mining company’s stock after acquiring an additional 451,437 shares during the period. Envestnet Asset Management Inc.’s holdings in Trilogy Metals were worth $2,128,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. TSP Capital Management Group LLC boosted its stake in Trilogy Metals by 17.8% during the 2nd quarter. TSP Capital Management Group LLC now owns 6,152,500 shares of the mining company’s stock valued at $8,306,000 after purchasing an additional 930,000 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Trilogy Metals by 5,289.5% in the second quarter. JPMorgan Chase & Co. now owns 204,800 shares of the mining company’s stock valued at $276,000 after buying an additional 201,000 shares during the period. GAM Holding AG bought a new position in Trilogy Metals during the third quarter valued at about $420,000. Jane Street Group LLC acquired a new position in Trilogy Metals during the second quarter worth about $154,000. Finally, XTX Topco Ltd acquired a new position in Trilogy Metals during the second quarter worth about $115,000. Institutional investors own 16.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. TD Cowen raised shares of Trilogy Metals from a “hold” rating to a “buy” rating in a report on Friday, February 20th. TD Securities raised shares of Trilogy Metals from a “hold” rating to a “buy” rating in a research note on Friday, February 20th. Raymond James Financial restated a “market perform” rating on shares of Trilogy Metals in a report on Wednesday, January 14th. Finally, Cormark raised Trilogy Metals from a “hold” rating to a “moderate buy” rating in a report on Thursday, December 18th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Trilogy Metals presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.75.

Insider Activity

In related news, Director William L. Iggiagruk Hensley sold 25,107 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $4.40, for a total value of $110,470.80. Following the completion of the sale, the director owned 18,531 shares in the company, valued at approximately $81,536.40. This represents a 57.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 15.20% of the stock is owned by corporate insiders.

Trilogy Metals Trading Down 0.9%

NYSEAMERICAN TMQ opened at $4.43 on Friday. Trilogy Metals Inc. has a 1 year low of $1.13 and a 1 year high of $11.29. The company has a market cap of $764.40 million, a PE ratio of -17.72 and a beta of 1.18. The stock’s 50-day moving average price is $4.94 and its two-hundred day moving average price is $4.08.

Trilogy Metals Profile

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.