Trilogy Metals (NYSEAMERICAN:TMQ) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Trilogy Metals (NYSEAMERICAN:TMQ) from a hold rating to a sell rating in a report released on Friday, 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. “

A number of other equities research analysts also recently commented on TMQ. Raymond James restated a buy rating and issued a $3.25 target price on shares of Trilogy Metals in a research report on Wednesday, July 15th. BMO Capital Markets initiated coverage on Trilogy Metals in a research note on Wednesday, May 13th. They issued an outperform rating for the company. Finally, TD Securities cut Trilogy Metals from a buy rating to a hold rating and set a $3.50 price objective for the company. in a research note on Friday, July 24th.

Shares of Trilogy Metals stock opened at $1.98 on Friday. Trilogy Metals has a one year low of $1.03 and a one year high of $2.74.

Trilogy Metals (NYSEAMERICAN:TMQ) last announced its quarterly earnings data on Wednesday, July 8th. The mining company reported ($0.02) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.02).

In related news, major shareholder Paulson & Co. Inc. bought 195,514 shares of the stock in a transaction that occurred on Wednesday, June 24th. The stock was purchased at an average cost of $1.83 per share, with a total value of $357,790.62. The purchase was disclosed in a legal filing with the SEC, which is available through this link.

An institutional investor recently bought a new position in Trilogy Metals stock. Virtu Financial LLC bought a new stake in Trilogy Metals Inc (NYSEAMERICAN:TMQ) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 43,556 shares of the mining company’s stock, valued at approximately $87,000.

Trilogy Metals Company Profile

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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