Trilogy Metals Inc. (NYSEAMERICAN:TMQ) Sees Significant Drop in Short Interest

Trilogy Metals Inc. (NYSEAMERICAN:TMQ) saw a large decline in short interest in December. As of December 15th, there was short interest totalling 1,450,000 shares, a decline of 19.9% from the November 30th total of 1,810,000 shares. Based on an average daily trading volume, of 1,710,000 shares, the days-to-cover ratio is presently 0.8 days. Approximately 1.5% of the shares of the stock are sold short.

Trilogy Metals Stock Down 5.9 %

NYSEAMERICAN:TMQ traded down $0.07 during trading hours on Friday, hitting $1.12. The company’s stock had a trading volume of 316,454 shares, compared to its average volume of 623,552. Trilogy Metals has a twelve month low of $0.25 and a twelve month high of $1.40. The firm has a market capitalization of $180.42 million, a PE ratio of -18.67 and a beta of 1.59.

Trilogy Metals (NYSEAMERICAN:TMQ) last issued its quarterly earnings data on Wednesday, October 9th. The mining company reported ($0.01) EPS for the quarter, meeting the consensus estimate of ($0.01). On average, analysts anticipate that Trilogy Metals will post -0.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Trilogy Metals

Hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC raised its position in Trilogy Metals by 85.7% during the 3rd quarter. Virtu Financial LLC now owns 133,678 shares of the mining company’s stock worth $65,000 after purchasing an additional 61,683 shares during the last quarter. Old West Investment Management LLC raised its position in shares of Trilogy Metals by 152.7% during the third quarter. Old West Investment Management LLC now owns 7,830,209 shares of the mining company’s stock worth $3,915,000 after acquiring an additional 4,731,278 shares during the last quarter. Finally, Wexford Capital LP raised its position in shares of Trilogy Metals by 90.2% during the third quarter. Wexford Capital LP now owns 4,574,292 shares of the mining company’s stock worth $2,214,000 after acquiring an additional 2,169,593 shares during the last quarter. 16.75% of the stock is currently owned by institutional investors and hedge funds.

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.