Trilogy Metals (NYSEAMERICAN:TMQ) Stock Price Up 8.5% – Time to Buy?

Trilogy Metals Inc. (NYSEAMERICAN:TMQ) shot up 8.5% during mid-day trading on Friday . The company traded as high as $3.95 and last traded at $3.94. Approximately 1,106,964 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 3,143,063 shares. The stock had previously closed at $3.63.

Wall Street Analyst Weigh In

Several research firms have weighed in on TMQ. Zacks Research lowered shares of Trilogy Metals from a “hold” rating to a “strong sell” rating in a research note on Monday, August 3rd. Freedom Capital downgraded shares of Trilogy Metals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 5th. 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, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $7.75.

Trilogy Metals Trading Up 9.1%

The business’s fifty day moving average price is $3.43 and its two-hundred day moving average price is $3.89. The firm has a market cap of $683.50 million, a P/E ratio of -13.20 and a beta of 1.46.

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

Institutional Trading of Trilogy Metals

A number of institutional investors and hedge funds have recently modified their holdings of TMQ. Caitong International Asset Management Co. Ltd acquired a new position in Trilogy Metals during the 4th quarter worth $27,000. State of Wyoming bought a new position in shares of Trilogy Metals in the fourth quarter worth about $32,000. Fore Capital LLC bought a new position in shares of Trilogy Metals in the second quarter worth about $35,000. EP Wealth Advisors LLC acquired a new position in shares of Trilogy Metals during the 2nd quarter worth about $35,000. Finally, Bank of America Corp DE acquired a new position in shares of Trilogy Metals during the 2nd quarter worth about $37,000. 16.75% of the stock is currently owned by institutional investors and hedge funds.

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.