Trilogy Metals (TSE:TMQ) Shares Up 12.7% – Here’s Why

Trilogy Metals Inc. (TSE:TMQ)’s stock price rose 12.7% on Friday . The company traded as high as C$8.40 and last traded at C$8.27. Approximately 236,923 shares traded hands during mid-day trading, an increase of 159% from the average daily volume of 91,345 shares. The stock had previously closed at C$7.34.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. BMO Capital Markets downgraded shares of Trilogy Metals from an “outperform” rating to a “market perform” rating and set a C$5.50 price objective for the company. in a research report on Friday, October 10th. National Bankshares boosted their price target on shares of Trilogy Metals from C$3.25 to C$8.00 and gave the stock a “sector perform” rating in a research note on Monday, October 20th. 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 boosted their target price on Trilogy Metals from C$5.50 to C$8.50 in a research report on Tuesday, October 21st. Finally, Cormark downgraded Trilogy Metals from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of C$6.13.

Trilogy Metals Price Performance

The company has a debt-to-equity ratio of 0.12, a current ratio of 60.98 and a quick ratio of 5.25. The company’s 50 day moving average is C$4.49 and its 200 day moving average is C$2.89. The stock has a market cap of C$1.38 billion, a price-to-earnings ratio of -139.67 and a beta of 1.94.

Trilogy Metals Company Profile

Trilogy Metals Inc is an exploration stage company engaged in mineral exploration. The company focuses on exploring and developing its mineral resource properties, which include the Upper Kobuk Mineral Projects (UKMP or UKMP Projects), in the Ambler mining district located in Alaska, the United States.