Trilogy Metals price target raised to C$5.50 from C$2.25 at TD Cowen

TD Cowen analyst Craig Hutchison raised the firm’s price target on Trilogy Metals (TMQ) to C$5.50 from C$2.25 and keeps a Hold rating on the shares. The firm noted the announcment of the Trump administration issued a decision under Section 1106 of the Alaska National Interest Lands Conservation Act, granting the permits for the Ambler Road. Concurrently, the government invested $35.6M in Trilogy, acquiring a 10% stake.