Trilogy Metals (NYSEAMERICAN:TMQ) Stock Rating Lowered by Zacks Investment Research

Trilogy Metals (NYSEAMERICAN:TMQ) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday, Zacks.com reports.

According to Zacks, “Trilogy Metals Inc. is a metal exploration company. It primarily explores for copper, zinc, lead, gold, silver and carbonate. The company’s project primarily consists of Ambler mining district located in northwestern Alaska. Trilogy Metals Inc., formerly known as NovaCopper Inc., is headquartered in Vancouver, Canada. “

NYSEAMERICAN:TMQ traded down $0.02 during trading hours on Thursday, hitting $2.12. The company had a trading volume of 43,454 shares, compared to its average volume of 173,630. Trilogy Metals has a 52 week low of $1.48 and a 52 week high of $3.13.

Trilogy Metals (NYSEAMERICAN:TMQ) last released its quarterly earnings results on Tuesday, July 9th. The mining company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.02.

Several hedge funds have recently made changes to their positions in the company. Selz Capital LLC boosted its holdings in shares of Trilogy Metals by 13.6% during the 2nd quarter. Selz Capital LLC now owns 11,571,421 shares of the mining company’s stock valued at $34,136,000 after buying an additional 1,389,675 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Trilogy Metals by 10.3% during the 4th quarter. Millennium Management LLC now owns 5,895,943 shares of the mining company’s stock valued at $10,200,000 after buying an additional 550,883 shares in the last quarter. DW Partners LP bought a new stake in shares of Trilogy Metals during the 1st quarter valued at $2,485,000. OppenheimerFunds Inc. boosted its holdings in shares of Trilogy Metals by 26.7% during the 1st quarter. OppenheimerFunds Inc. now owns 380,000 shares of the mining company’s stock valued at $935,000 after buying an additional 80,000 shares in the last quarter. Finally, Raymond James & Associates bought a new stake in shares of Trilogy Metals during the 4th quarter valued at $61,000.

About Trilogy Metals

Trilogy Metals Inc, a base metals exploration company, explores for and develops mineral properties in the United States. It principally holds interests in the Upper Kobuk mineral projects that include the Arctic copper-zinc-lead-gold-silver project and Bornite carbonate-hosted copper project covering an area of approximately 355,400 acres located in the Ambler mining district in Northwest Alaska.

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