Walleye Capital LLC Purchases 691,267 Shares of Trilogy Metals Inc. $TMQ

Walleye Capital LLC grew its position in Trilogy Metals Inc. (NYSEAMERICAN:TMQ) by 271.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 945,678 shares of the mining company’s stock after buying an additional 691,267 shares during the period. Walleye Capital LLC’s holdings in Trilogy Metals were worth $3,395,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in TMQ. JPMorgan Chase & Co. lifted its stake in shares of Trilogy Metals by 5,289.5% during the second quarter. JPMorgan Chase & Co. now owns 204,800 shares of the mining company’s stock valued at $276,000 after acquiring an additional 201,000 shares during the period. XTX Topco Ltd acquired a new stake in Trilogy Metals in the second quarter worth about $115,000. Jane Street Group LLC acquired a new stake in Trilogy Metals in the second quarter worth about $154,000. Bank of America Corp DE raised its holdings in Trilogy Metals by 16.5% during the 2nd quarter. Bank of America Corp DE now owns 122,095 shares of the mining company’s stock worth $165,000 after purchasing an additional 17,291 shares during the last quarter. Finally, Two Sigma Investments LP raised its holdings in Trilogy Metals by 52.3% during the 3rd quarter. Two Sigma Investments LP now owns 326,721 shares of the mining company’s stock worth $686,000 after purchasing an additional 112,127 shares during the last quarter. Institutional investors own 16.75% of the company’s stock.

Analyst Ratings Changes

Separately, Raymond James Financial upgraded shares of Trilogy Metals from a “market perform” rating to an “outperform” rating in a research report on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Trilogy Metals has a consensus rating of “Buy” and a consensus target price of $7.75.

Trilogy Metals Stock Down 0.6%

Shares of Trilogy Metals stock opened at $3.16 on Friday. Trilogy Metals Inc. has a 12 month low of $1.43 and a 12 month high of $11.29. The business has a fifty day simple moving average of $3.70 and a 200 day simple moving average of $4.20. The stock has a market cap of $545.42 million, a PE ratio of -10.53 and a beta of 1.43.

Trilogy Metals (NYSEAMERICAN:TMQ) last released its earnings results on Wednesday, July 8th. The mining company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.03). During the same quarter in the previous year, the business earned ($0.01) earnings per share. Analysts expect that Trilogy Metals Inc. will post -0.05 EPS for the current fiscal year.

Insider Activity

In other news, Director William L. Iggiagruk Hensley sold 50,000 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $4.44, for a total value of $222,000.00. Following the completion of the sale, the director directly owned 18,531 shares of the company’s stock, valued at $82,277.64. This represents a 72.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 14.60% of the company’s stock.

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.