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Director William Beckwith Hayden of Trilogy Metals Inc. (NYSE:TMQ), now valued at nearly $1 billion, sold 264,294 shares of common stock on October 8th and 9th, for a total of $1.77 million. The shares were sold at prices ranging from $6.61 to $7.06, amid the stock’s remarkable 185% surge over the past week. According to InvestingPro analysis, TMQ’s RSI indicates overbought conditions.
On the same day, October 8th, Hayden also exercised options to acquire 325,000 common shares at prices ranging from $0.42 to $1.81, for a total value of $390750. The stock is trading near its 52-week high of $7.98, with InvestingPro offering 15+ additional insights about TMQ’s valuation and momentum indicators.
In other recent news, Trilogy Metals has been in the spotlight due to several significant developments. The company experienced a notable surge after President Trump signed an executive order to construct an access road to the Ambler Mining District in Alaska, which is crucial for Trilogy’s operations in the region. This development has been instrumental in facilitating infrastructure for the company’s primary assets. In light of these changes, Cantor Fitzgerald upgraded Trilogy Metals from Speculative Buy to Buy, raising its price target from $3.00 to $10.00, citing improved federal funding prospects and expectations of reduced future equity dilution.
Conversely, BMO Capital downgraded Trilogy Metals from Outperform to Market Perform despite raising its price target from $3.00 to $5.50. This decision followed a significant re-rating of Trilogy shares after the U.S. federal government announced an investment in the company’s Ambler Road Project. These recent developments reflect a dynamic period for Trilogy Metals, with varying analyst opinions on its future potential.
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