Jim Cramer on Trilogy Metals: “You Gotta Sell That”

Trilogy Metals Inc. (NYSE:TMQ) is one of the stocks Jim Cramer recently answered questions about. A caller asked whether to hold or sell the stock, and Cramer replied, “It is a parabolic move that’s just now declining. You gotta sell that.”

Trilogy Metals Inc. (NYSE:TMQ) explores and develops mineral properties focused on copper, cobalt, zinc, gold, silver, and lead. On October 10, BMO Capital downgraded the company’s stock to to Market Perform from Outperform and raised its price target to $5.50 from $3. The firm noted valuation concerns after the stock’s re-rating after the U.S. federal government investment and said that while the news is positive, the shares are trading above typical multiples for development-stage projects. Additionally, on October 8, Cormark downgraded Trilogy Metals Inc. (NYSE:TMQ) from Buy to Market Perform with a price target of C$5.25.

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Disclosure: None. This article is originally published at Insider Monkey.