Trilogy Metals (NYSEAMERICAN:TMQ) Raised to “Hold” at Zacks Research

Trilogy Metals (NYSEAMERICAN:TMQ) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday, Zacks reports.

A number of other brokerages have also recently commented on TMQ. UBS Group cut Trilogy Metals to a “hold” rating in a research report on Wednesday, August 5th. Freedom Capital lowered Trilogy Metals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 5th. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $7.75.

Trilogy Metals Price Performance

NYSEAMERICAN:TMQ opened at $3.49 on Monday. The firm has a market capitalization of $602.37 million, a P/E ratio of -11.63 and a beta of 1.49. Trilogy Metals has a one year low of $1.79 and a one year high of $11.29. The company’s 50-day simple moving average is $3.41 and its 200 day simple moving average is $3.80.

Trilogy Metals (NYSEAMERICAN:TMQ) last announced 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 quarter last year, the company earned ($0.01) EPS. On average, equities research analysts expect that Trilogy Metals will post -0.08 earnings per share for the current fiscal year.

Institutional Trading of Trilogy Metals

Several institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in Trilogy Metals by 5,289.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 204,800 shares of the mining company’s stock valued at $276,000 after purchasing an additional 201,000 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Trilogy Metals in the second quarter worth approximately $115,000. Jane Street Group LLC bought a new position in shares of Trilogy Metals in the second quarter worth approximately $154,000. Bank of America Corp DE lifted its stake in shares of Trilogy Metals by 16.5% in the second quarter. Bank of America Corp DE now owns 122,095 shares of the mining company’s stock worth $165,000 after buying an additional 17,291 shares in the last quarter. Finally, Two Sigma Investments LP grew its holdings in shares of Trilogy Metals by 52.3% during the third quarter. Two Sigma Investments LP now owns 326,721 shares of the mining company’s stock valued at $686,000 after buying an additional 112,127 shares during the last quarter. 16.75% of the stock is owned by hedge funds and other 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.