Insider Selling: Trilogy Metals (NYSEAMERICAN:TMQ) Director Sells $332,021.28 in Stock

Trilogy Metals Inc. (NYSEAMERICAN:TMQ) Director Janice Stairs sold 50,613 shares of the company’s stock in a transaction that occurred on Thursday, October 9th. The stock was sold at an average price of $6.56, for a total transaction of $332,021.28. Following the completion of the transaction, the director owned 508,608 shares in the company, valued at approximately $3,336,468.48. This represents a 9.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Trilogy Metals Stock Performance

Shares of NYSEAMERICAN TMQ opened at $5.93 on Monday. The firm’s 50 day moving average price is $2.20 and its 200-day moving average price is $1.73. The company has a market cap of $974.36 million, a PE ratio of -118.60 and a beta of 1.18. Trilogy Metals Inc. has a 52-week low of $0.49 and a 52-week high of $7.98.

Trilogy Metals (NYSEAMERICAN:TMQ) last issued its quarterly earnings data on Thursday, July 10th. The mining company reported ($0.01) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.01). On average, analysts forecast that Trilogy Metals Inc. will post -0.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on TMQ shares. Raymond James Financial upgraded shares of Trilogy Metals from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, October 7th. TD Securities restated a “hold” rating on shares of Trilogy Metals in a research report on Tuesday, October 7th. Cowen restated a “hold” rating on shares of Trilogy Metals in a research report on Tuesday, October 7th. BMO Capital Markets restated a “market perform” rating and set a $5.50 price objective on shares of Trilogy Metals in a research report on Friday. Finally, Cormark downgraded shares of Trilogy Metals from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $7.75.

Institutional Trading of Trilogy Metals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. purchased a new stake in Trilogy Metals during the first quarter valued at approximately $396,000. DLD Asset Management LP purchased a new stake in Trilogy Metals during the first quarter valued at approximately $388,000. Old West Investment Management LLC increased its holdings in 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 valued at $19,611,000 after buying an additional 4,781,670 shares during the last quarter. Virtu Financial LLC purchased a new stake in Trilogy Metals during the first quarter valued at approximately $83,000. Finally, Legacy Capital Group California Inc. purchased a new stake in shares of Trilogy Metals in the first quarter worth $232,000. 16.75% of the stock is owned by hedge funds and other institutional investors.

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.