Trilogy Metals Inc. (NYSEAMERICAN:TMQ) Sees Large Increase in Short Interest

Trilogy Metals Inc. (NYSEAMERICAN:TMQ) saw a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 2,420,000 shares, an increase of 877.0% from the October 31st total of 247,700 shares. Based on an average daily volume of 1,640,000 shares, the days-to-cover ratio is presently 1.5 days. Currently, 2.4% of the shares of the company are sold short.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of TMQ. Virtu Financial LLC lifted its stake in Trilogy Metals by 85.7% in the 3rd quarter. Virtu Financial LLC now owns 133,678 shares of the mining company’s stock valued at $65,000 after acquiring an additional 61,683 shares in the last quarter. Tidal Investments LLC acquired a new position in shares of Trilogy Metals in the first quarter valued at about $525,000. Old West Investment Management LLC boosted its holdings in Trilogy Metals by 54.6% in the 2nd quarter. Old West Investment Management LLC now owns 3,098,931 shares of the mining company’s stock valued at $1,549,000 after purchasing an additional 1,094,842 shares during the period. Finally, Wexford Capital LP grew its position in shares of Trilogy Metals by 90.2% during the 3rd quarter. Wexford Capital LP now owns 4,574,292 shares of the mining company’s stock worth $2,214,000 after purchasing an additional 2,169,593 shares in the last quarter. Institutional investors own 16.75% of the company’s stock.

Trilogy Metals Stock Down 1.6 %

TMQ traded down $0.02 on Wednesday, hitting $1.23. 135,247 shares of the stock traded hands, compared to its average volume of 644,727. The firm has a market capitalization of $197.91 million, a price-to-earnings ratio of -20.83 and a beta of 1.32. Trilogy Metals has a 52 week low of $0.25 and a 52 week high of $1.40.

Trilogy Metals (NYSEAMERICAN:TMQ) last released its quarterly earnings data on Wednesday, October 9th. The mining company reported ($0.01) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.01). Equities research analysts expect that Trilogy Metals will post -0.04 EPS for the current year.

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.