Trilogy Metals Inc. $TMQ Shares Sold by Tidal Investments LLC

Tidal Investments LLC trimmed its stake in Trilogy Metals Inc. (NYSEAMERICAN:TMQ) by 15.5% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 8,396,279 shares of the mining company’s stock after selling 1,536,918 shares during the quarter. Tidal Investments LLC’s holdings in Trilogy Metals were worth $29,453,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Electrum Group LLC acquired a new stake in shares of Trilogy Metals in the 2nd quarter worth about $110,932,641. Walleye Capital LLC boosted its stake in Trilogy Metals by 271.7% during the 1st quarter. Walleye Capital LLC now owns 945,678 shares of the mining company’s stock valued at $3,395,000 after purchasing an additional 691,267 shares during the period. Moore Capital Management LP acquired a new position in Trilogy Metals during the 2nd quarter valued at about $1,375,000. BlackRock Inc. bought a new position in Trilogy Metals in the 2nd quarter worth about $1,718,000. Finally, Goehring & Rozencwajg Associates LLC grew its position in Trilogy Metals by 22.7% in the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 1,728,153 shares of the mining company’s stock worth $6,221,000 after purchasing an additional 319,949 shares during the last quarter. Institutional investors and hedge funds own 16.75% of the company’s stock.

Trilogy Metals Stock Up 0.6%

TMQ stock opened at $3.51 on Thursday. The company has a market capitalization of $605.83 million, a P/E ratio of -11.70 and a beta of 1.49. The company has a 50-day simple moving average of $3.41 and a 200 day simple moving average of $3.80. Trilogy Metals Inc. has a fifty-two week low of $1.83 and a fifty-two week high of $11.29.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TMQ. Freedom Capital cut Trilogy Metals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 5th. Zacks Research raised Trilogy Metals from a “strong sell” rating to a “hold” rating in a report on Monday. Finally, UBS Group cut Trilogy Metals 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 given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $7.75.

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.