Trilogy Metals (NYSEAMERICAN:TMQ) Trading Down 4.7% – Here’s What Happened

Shares of Trilogy Metals Inc. (NYSEAMERICAN:TMQ) traded down 4.7% on Thursday . The stock traded as low as $3.32 and last traded at $3.3150. 613,741 shares changed hands during trading, a decline of 80% from the average daily volume of 3,035,031 shares. The stock had previously closed at $3.48.

Analysts Set New Price Targets

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

Trilogy Metals Stock Down 4.7%

The stock has a market cap of $572.17 million, a PE ratio of -11.05 and a beta of 1.49. The business’s 50-day simple moving average is $3.42 and its 200-day simple moving average is $3.82.

Trilogy Metals (NYSEAMERICAN:TMQ) last posted its earnings results on Wednesday, July 8th. The mining company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.03). During the same period in the prior year, the firm posted ($0.01) EPS. As a group, equities research analysts anticipate that Trilogy Metals Inc. will post -0.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Trilogy Metals

Large investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd purchased a new position in shares of Trilogy Metals during the fourth quarter valued at approximately $27,000. State of Wyoming purchased a new stake in Trilogy Metals in the fourth quarter worth $32,000. Tradition Wealth Management LLC bought a new stake in Trilogy Metals in the fourth quarter valued at $43,000. Leonteq Securities AG bought a new stake in Trilogy Metals in the fourth quarter valued at $43,000. Finally, Fore Capital LLC bought a new stake in Trilogy Metals in the second quarter valued at $35,000. 16.75% of the stock is currently 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.