Trilogy Metals Inc. (NYSEAMERICAN:TMQ) Short Interest Update

Trilogy Metals Inc. (NYSEAMERICAN:TMQ) was the target of a large drop in short interest in August. As of August 31st, there was short interest totalling 218,100 shares, a drop of 28.2% from the August 15th total of 303,800 shares. Based on an average daily volume of 239,500 shares, the days-to-cover ratio is currently 0.9 days. Currently, 0.2% of the company’s stock are sold short.

Hedge Funds Weigh In On Trilogy Metals

A number of hedge funds have recently bought and sold shares of TMQ. Old West Investment Management LLC raised 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 acquiring an additional 1,094,842 shares in the last quarter. Virtu Financial LLC lifted its position in Trilogy Metals by 301.1% during the first quarter. Virtu Financial LLC now owns 186,226 shares of the mining company’s stock worth $93,000 after purchasing an additional 139,798 shares during the period. Tidal Investments LLC bought a new stake in Trilogy Metals during the first quarter worth about $525,000. TSP Capital Management Group LLC grew its stake in Trilogy Metals by 5.1% during the first quarter. TSP Capital Management Group LLC now owns 5,027,500 shares of the mining company’s stock worth $2,514,000 after buying an additional 245,000 shares in the last quarter. Finally, Goehring & Rozencwajg Associates LLC increased its holdings in Trilogy Metals by 3.0% in the 4th quarter. Goehring & Rozencwajg Associates LLC now owns 1,647,016 shares of the mining company’s stock valued at $721,000 after buying an additional 47,310 shares during the period. 16.75% of the stock is owned by institutional investors.

Trilogy Metals Trading Down 1.2 %

Shares of TMQ stock opened at $0.49 on Friday. Trilogy Metals has a one year low of $0.25 and a one year high of $0.71. The firm has a market capitalization of $79.32 million, a P/E ratio of -6.18 and a beta of 1.38.

Trilogy Metals (NYSEAMERICAN:TMQ) last released its quarterly earnings results on Friday, July 12th. The mining company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). Research analysts expect that Trilogy Metals will post -0.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, TD Securities cut shares of Trilogy Metals from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 11th.

Trilogy Metals Company Profile

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.