Trilogy Metals (NYSEAMERICAN:TMQ) Shares Pass Above 50 Day Moving Average - Here's What Happened

Shares of Trilogy Metals Inc. (NYSEAMERICAN:TMQ - Get Free Report) passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $1.44 and traded as high as $1.50. Trilogy Metals shares last traded at $1.46, with a volume of 429,045 shares changing hands.

Wall Street Analyst Weigh In

Separately, Raymond James reiterated a "market perform" rating on shares of Trilogy Metals in a report on Monday, March 24th.

Trilogy Metals Stock Performance

The firm has a market capitalization of $240.17 million, a price-to-earnings ratio of -29.70 and a beta of 1.54. The company has a 50-day moving average of $1.46 and a 200-day moving average of $1.11.

Hedge Funds Weigh In On Trilogy Metals

Large investors have recently bought and sold shares of the company. Wexford Capital LP grew its position in Trilogy Metals by 15.5% in the fourth quarter. Wexford Capital LP now owns 5,282,761 shares of the mining company's stock valued at $6,128,000 after purchasing an additional 708,469 shares in the last quarter. Foursixthree Capital LP bought a new stake in Trilogy Metals during the fourth quarter worth about $2,954,000. Sprott Inc. grew its stake in Trilogy Metals by 64.9% in the fourth quarter. Sprott Inc. now owns 2,094,652 shares of the mining company's stock valued at $2,430,000 after purchasing an additional 824,071 shares in the last quarter. Tidal Investments LLC raised its stake in shares of Trilogy Metals by 73.5% during the 4th quarter. Tidal Investments LLC now owns 1,848,427 shares of the mining company's stock worth $2,144,000 after purchasing an additional 782,929 shares in the last quarter. Finally, Bornite Capital Management LP acquired a new stake in shares of Trilogy Metals in the 4th quarter valued at approximately $812,000. Institutional investors and hedge funds 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.