Trilogy Metals Inc. (NYSEAMERICAN:TMQ – Get Rating) – Stock analysts at Cormark issued their FY2023 earnings estimates for shares of Trilogy Metals in a note issued to investors on Thursday, May 19th. Cormark analyst S. Ioannou anticipates that the mining company will post earnings of ($0.02) per share for the year.
Several other research firms also recently weighed in on TMQ. Zacks Investment Research downgraded Trilogy Metals from a “buy” rating to a “sell” rating in a research report on Tuesday, April 12th. BMO Capital Markets cut their target price on Trilogy Metals from C$3.00 to C$1.75 in a research note on Thursday, February 24th. Raymond James decreased their target price on Trilogy Metals from C$3.75 to C$3.00 in a research report on Thursday, February 24th. National Bank Financial reiterated a “sector perform overweight” rating on shares of Trilogy Metals in a report on Thursday, February 24th. Finally, TD Securities downgraded shares of Trilogy Metals from a “buy” rating to a “hold” rating in a research note on Thursday, February 24th.
Trilogy Metals (NYSEAMERICAN:TMQ – Get Rating) last released its quarterly earnings results on Wednesday, April 6th. The mining company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.02).
In other Trilogy Metals news, CEO Tony Giardini acquired 50,000 shares of the company’s stock in a transaction on Thursday, February 24th. The shares were bought at an average cost of $0.94 per share, for a total transaction of $47,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.40% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Morgan Stanley lifted its holdings in Trilogy Metals by 65.1% in the 1st quarter. Morgan Stanley now owns 58,406 shares of the mining company’s stock worth $125,000 after buying an additional 23,033 shares in the last quarter. Raymond James & Associates acquired a new position in Trilogy Metals during the 3rd quarter worth $35,000. The Manufacturers Life Insurance Company increased its stake in Trilogy Metals by 11.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,007,627 shares of the mining company’s stock valued at $2,358,000 after buying an additional 100,000 shares during the period. Dimensional Fund Advisors LP lifted its position in Trilogy Metals by 100.3% in the third quarter. Dimensional Fund Advisors LP now owns 21,693 shares of the mining company’s stock worth $40,000 after purchasing an additional 10,865 shares during the period. Finally, Millennium Management LLC lifted its holdings in Trilogy Metals by 8.1% in the 3rd quarter. Millennium Management LLC now owns 247,274 shares of the mining company’s stock valued at $457,000 after acquiring an additional 18,504 shares during the last quarter. 28.37% of the stock is owned by institutional investors.
About Trilogy Metals (Get Rating)
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, which contains polymetallic volcanogenic massive sulfide deposits; and Bornite that contains carbonate-hosted copper – cobalt deposits covering an area of approximately 426,690 acres located in the Ambler mining district in Northwest Alaska.
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