Short Interest in Trilogy Metals Inc. (NYSEAMERICAN:TMQ) Drops By 25.2%

Trilogy Metals Inc. (NYSEAMERICAN:TMQ) was the recipient of a significant decrease in short interest in the month of November. As of November 30th, there was short interest totalling 1,810,000 shares, a decrease of 25.2% from the November 15th total of 2,420,000 shares. Approximately 1.8% of the company’s shares are sold short. Based on an average daily volume of 1,680,000 shares, the days-to-cover ratio is currently 1.1 days.

Trilogy Metals Price Performance

Shares of Trilogy Metals stock remained flat at $1.13 on Friday. 141,426 shares of the stock were exchanged, compared to its average volume of 637,872. Trilogy Metals has a twelve month low of $0.25 and a twelve month high of $1.40. The stock has a market cap of $181.82 million, a P/E ratio of -18.83 and a beta of 1.59.

Trilogy Metals (NYSEAMERICAN:TMQ) last issued its quarterly earnings results on Wednesday, October 9th. The mining company reported ($0.01) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.01). As a group, equities research analysts forecast that Trilogy Metals will post -0.04 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TMQ. Virtu Financial LLC raised its position in shares of 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 acquiring an additional 61,683 shares in the last quarter. Old West Investment Management LLC increased its stake in Trilogy Metals by 54.6% in the second 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 last quarter. Finally, Wexford Capital LP increased its stake in Trilogy Metals by 90.2% in the third quarter. Wexford Capital LP now owns 4,574,292 shares of the mining company’s stock valued at $2,214,000 after purchasing an additional 2,169,593 shares during the last quarter. Institutional investors and hedge funds own 16.75% of the company’s stock.

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.