Insider Selling: Trilogy Metals (NYSEAMERICAN:TMQ) Director Sells $639,000.00 in Stock

Trilogy Metals Inc. (NYSEAMERICAN:TMQ) Director William Iggiagruk Hensley sold 100,000 shares of the business’s stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $6.39, for a total transaction of $639,000.00. Following the sale, the director directly owned 43,638 shares in the company, valued at approximately $278,846.82. This trade represents a 69.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Trilogy Metals Stock Down 9.5%

Shares of NYSEAMERICAN:TMQ opened at $5.93 on Monday. The company’s fifty day moving average is $2.20 and its two-hundred day moving average is $1.73. Trilogy Metals Inc. has a 12-month low of $0.49 and a 12-month high of $7.98. The company has a market cap of $974.36 million, a P/E ratio of -118.60 and a beta of 1.18.

Trilogy Metals (NYSEAMERICAN:TMQ) last announced its earnings results on Thursday, July 10th. The mining company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). Equities research analysts anticipate that Trilogy Metals Inc. will post -0.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TMQ. Cormark downgraded Trilogy Metals from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, October 8th. Raymond James Financial raised Trilogy Metals from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, October 7th. BMO Capital Markets restated a “market perform” rating and issued a $5.50 price objective on shares of Trilogy Metals in a report on Friday. TD Securities reaffirmed a “hold” rating on shares of Trilogy Metals in a research report on Tuesday, October 7th. Finally, Cowen reissued a “hold” rating on shares of Trilogy Metals in a research report on Tuesday, October 7th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Trilogy Metals has a consensus rating of “Hold” and a consensus price target of $7.75.

Institutional Trading of Trilogy Metals

Large investors have recently made changes to their positions in the stock. Birchbrook Inc. boosted its stake in shares of Trilogy Metals by 25.0% during the 1st quarter. Birchbrook Inc. now owns 50,000 shares of the mining company’s stock worth $78,000 after acquiring an additional 10,000 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Trilogy Metals during the 1st quarter worth about $83,000. XTX Topco Ltd bought a new stake in shares of Trilogy Metals during the 2nd quarter worth about $115,000. Jane Street Group LLC bought a new stake in shares of Trilogy Metals during the 2nd quarter worth about $154,000. Finally, Bank of America Corp DE boosted its stake in shares of 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 acquiring an additional 17,291 shares in the last quarter. Institutional investors own 16.75% of the company’s stock.

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.