Trilogy Metals (NYSEAMERICAN:TMQ) Stock Price Up 8.5% – Here’s What Happened

Trilogy Metals Inc. (NYSEAMERICAN:TMQ)’s share price traded up 8.5% during mid-day trading on Friday . The stock traded as high as $3.95 and last traded at $3.94. Approximately 1,106,964 shares traded hands during trading, a decline of 65% from the average daily volume of 3,143,063 shares. The stock had previously closed at $3.63.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Zacks Research downgraded shares of Trilogy Metals from a “hold” rating to a “strong sell” rating in a research note on Monday, August 3rd. Freedom Capital cut shares of Trilogy Metals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 5th. Finally, UBS Group downgraded shares of Trilogy Metals to a “hold” rating in a report on Wednesday, August 5th. Five analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $7.75.

Trilogy Metals Stock Up 9.1%

The company has a 50 day moving average price of $3.43 and a 200-day moving average price of $3.89. The company has a market cap of $683.50 million, a price-to-earnings ratio of -13.20 and a beta of 1.46.

Trilogy Metals (NYSEAMERICAN:TMQ) last posted its earnings results on Wednesday, July 8th. The mining company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.03). During the same period last year, the business posted ($0.01) EPS. On average, analysts forecast that Trilogy Metals Inc. will post -0.05 EPS for the current fiscal year.

Institutional Trading of Trilogy Metals

Institutional investors and hedge funds have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd acquired a new position in Trilogy Metals during the 4th quarter worth about $27,000. State of Wyoming acquired a new stake in shares of Trilogy Metals in the fourth quarter valued at about $32,000. Fore Capital LLC bought a new position in shares of Trilogy Metals during the second quarter worth about $35,000. EP Wealth Advisors LLC bought a new position in shares of Trilogy Metals during the second quarter worth about $35,000. Finally, Bank of America Corp DE acquired a new position in shares of Trilogy Metals in the second quarter worth approximately $37,000. 16.75% of the stock is currently owned by institutional investors and hedge funds.

Trilogy Metals Company 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.