Raymond James raised its price target on Trilogy Metals Inc. (TMQ.TO, TMQ) to $1.75 from $1.
Analyst Brian MacArthur maintained a Market Perform rating on shares of the Vancouver-based mineral exploration company.
"TMQ has announced the results of its Preliminary Economic Assessment Study for the Bornite copper project in the Ambler Mining District of Northwestern Alaska," MacArthur said in a note to clients.
"There may also be opportunities to improve the Bornite/regional economics over time with exploration success and optimization studies," the analyst said.
"Importantly given the Bornite PEA demonstrates the potential to have mining activities at the UKMP for over 30 years and this might help permitting in the region, including the access road, especially given the changes in government in the US."
The stock rose 5% to $1.65 on the Toronto Stock Exchange Wednesday.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
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