Electrum Group LLC purchased a new position in Trilogy Metals Inc. (NYSEAMERICAN:TMQ – Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 31,604,741 shares of the mining company’s stock, valued at approximately $136,216,000. Trilogy Metals makes up 11.9% of Electrum Group LLC’s portfolio, making the stock its 2nd biggest holding. Electrum Group LLC owned about 0.18% of Trilogy Metals as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Envestnet Asset Management Inc. grew its position in Trilogy Metals by 80.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,013,517 shares of the mining company’s stock valued at $2,128,000 after purchasing an additional 451,437 shares during the last quarter. Leonteq Securities AG purchased a new stake in Trilogy Metals during the 4th quarter valued at about $43,000. Arizona State Retirement System purchased a new stake in Trilogy Metals during the 4th quarter valued at about $129,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Trilogy Metals during the 4th quarter valued at about $262,000. Finally, Choreo LLC purchased a new stake in Trilogy Metals during the 4th quarter valued at about $97,000. 16.75% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
TMQ has been the topic of several recent analyst reports. TD Cowen raised shares of Trilogy Metals from a “hold” rating to a “buy” rating in a research report on Friday, February 20th. Freedom Capital raised shares of Trilogy Metals to a “strong-buy” rating in a research report on Thursday, March 19th. TD Securities raised shares of Trilogy Metals from a “hold” rating to a “buy” rating in a research report on Friday, February 20th. Finally, Raymond James Financial raised shares of Trilogy Metals from a “market perform” rating to an “outperform” rating in a research report on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $7.75.
Insiders Place Their Bets
In related news, Director William L. Iggiagruk Hensley sold 50,000 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $4.44, for a total transaction of $222,000.00. Following the transaction, the director owned 18,531 shares in the company, valued at $82,277.64. This represents a 72.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 14.60% of the stock is currently owned by company insiders.
Trilogy Metals Stock Down 5.1%
Shares of TMQ stock opened at $3.74 on Wednesday. The company has a 50 day moving average price of $4.20 and a 200-day moving average price of $4.43. Trilogy Metals Inc. has a 52 week low of $1.22 and a 52 week high of $11.29. The firm has a market capitalization of $645.34 million, a PE ratio of -13.85 and a beta of 1.37.
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.
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