Electrum Group LLC bought a new position in shares of Trilogy Metals Inc. (NYSEAMERICAN:TMQ – Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 31,604,741 shares of the mining company’s stock, valued at approximately $110,932,641,000. Trilogy Metals comprises 3.3% of Electrum Group LLC’s holdings, making the stock its 4th largest holding. Electrum Group LLC owned about 18.31% of Trilogy Metals as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Walleye Capital LLC raised its position in shares of Trilogy Metals by 271.7% during the 1st quarter. Walleye Capital LLC now owns 945,678 shares of the mining company’s stock valued at $3,395,000 after acquiring an additional 691,267 shares in the last quarter. Goehring & Rozencwajg Associates LLC boosted its holdings in Trilogy Metals by 22.7% in the first quarter. Goehring & Rozencwajg Associates LLC now owns 1,728,153 shares of the mining company’s stock worth $6,221,000 after purchasing an additional 319,949 shares during the period. Old West Investment Management LLC bought a new stake in Trilogy Metals during the second quarter valued at $21,385,000. Private Advisor Group LLC acquired a new stake in shares of Trilogy Metals during the first quarter worth $732,000. Finally, World Investment Advisors acquired a new stake in shares of Trilogy Metals during the fourth quarter worth $181,000. Institutional investors and hedge funds own 16.75% of the company’s stock.
Trilogy Metals Trading Down 3.5%
NYSEAMERICAN TMQ opened at $3.59 on Wednesday. Trilogy Metals Inc. has a 52 week low of $1.55 and a 52 week high of $11.29. The stock has a market cap of $619.63 million, a price-to-earnings ratio of -11.97 and a beta of 1.46. The company has a 50-day moving average price of $3.43 and a two-hundred day moving average price of $3.92.
Analyst Upgrades and Downgrades
Several research firms have recently commented on TMQ. Zacks Research lowered shares of Trilogy Metals from a “hold” rating to a “strong sell” rating in a report on Monday, August 3rd. UBS Group lowered shares of Trilogy Metals to a “hold” rating in a research note on Wednesday, August 5th. Finally, Freedom Capital cut shares of Trilogy Metals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 5th. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Trilogy Metals presently has a consensus rating of “Hold” and an average target price of $7.75.
Get Our Latest Report on Trilogy Metals
Trilogy Metals 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.
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