Insider Selling: Trilogy Metals (NYSEAMERICAN:TMQ) Director Sells $1,322,000.00 in Stock

Trilogy Metals Inc. (NYSEAMERICAN:TMQ) Director William Beckwith Hayden sold 200,000 shares of the company’s stock in a transaction on Thursday, October 9th. The shares were sold at an average price of $6.61, for a total transaction of $1,322,000.00. Following the sale, the director owned 382,685 shares of the company’s stock, valued at $2,529,547.85. The trade was a 34.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

William Beckwith Hayden also recently made the following trade(s):

• On Wednesday, October 8th, William Beckwith Hayden sold 64,294 shares of Trilogy Metals stock. The stock was sold at an average price of $7.06, for a total value of $453,915.64.

Trilogy Metals Trading Down 9.5%

NYSEAMERICAN TMQ opened at $5.93 on Monday. Trilogy Metals Inc. has a 12 month low of $0.49 and a 12 month high of $7.98. The stock has a 50-day simple moving average of $2.20 and a 200 day simple moving average of $1.73. The company has a market capitalization of $974.36 million, a PE ratio of -118.60 and a beta of 1.18.

Trilogy Metals (NYSEAMERICAN:TMQ) last issued its earnings results on Thursday, July 10th. The mining company reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.01). As a group, sell-side analysts predict that Trilogy Metals Inc. will post -0.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Trilogy Metals

A number of hedge funds and other institutional investors have recently made changes to their positions in TMQ. Old West Investment Management LLC raised its holdings in shares of Trilogy Metals by 61.1% during the first quarter. Old West Investment Management LLC now owns 12,611,879 shares of the mining company’s stock worth $19,611,000 after acquiring an additional 4,781,670 shares during the period. TSP Capital Management Group LLC raised its holdings in shares of Trilogy Metals by 17.8% during the second quarter. TSP Capital Management Group LLC now owns 6,152,500 shares of the mining company’s stock worth $8,306,000 after acquiring an additional 930,000 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of Trilogy Metals by 120.0% during the second quarter. Envestnet Asset Management Inc. now owns 562,080 shares of the mining company’s stock worth $759,000 after acquiring an additional 306,547 shares during the period. Bornite Capital Management LP raised its holdings in shares of Trilogy Metals by 42.9% during the first quarter. Bornite Capital Management LP now owns 1,000,000 shares of the mining company’s stock worth $1,550,000 after acquiring an additional 300,000 shares during the period. Finally, DLD Asset Management LP acquired a new stake in shares of Trilogy Metals during the first quarter worth $388,000. 16.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on TMQ. BMO Capital Markets reaffirmed a “market perform” rating and issued a $5.50 target price on shares of Trilogy Metals in a research note on Friday. Cowen restated a “hold” rating on shares of Trilogy Metals in a research report on Tuesday, October 7th. Cantor Fitzgerald raised Trilogy Metals to a “buy” rating and set a $10.00 price objective on the stock in a research note on Tuesday, October 7th. Raymond James Financial raised Trilogy Metals from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, October 7th. Finally, TD Securities reaffirmed a “hold” rating on shares of Trilogy Metals in a research report on Tuesday, October 7th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Trilogy Metals currently has an average rating of “Hold” and an average target price of $7.75.

About Trilogy Metals

Trilogy Metals Inc, a base metals exploration company, engages in the exploration and development of mineral properties in the United States. The company explores for copper, cobalt, lead, zinc, gold, and silver properties. It principally holds interests in the Upper Kobuk mineral projects that include the Arctic, which contains polymetallic volcanogenic massive sulfide deposits; and Bornite that contains carbonate-hosted copper – cobalt deposits covering an area of approximately 448,217 acres located in the Ambler mining district in Northwest Alaska.