700,000 Shares in Trilogy Metals Inc. (NYSEAMERICAN:TMQ) Acquired by Bornite Capital Management LP

Bornite Capital Management LP purchased a new position in Trilogy Metals Inc. (NYSEAMERICAN:TMQ - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 700,000 shares of the mining company's stock, valued at approximately $812,000. Bornite Capital Management LP owned approximately 0.43% of Trilogy Metals as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in TMQ. Old West Investment Management LLC grew its holdings 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 valued at $3,915,000 after purchasing an additional 4,731,278 shares during the last quarter. Wexford Capital LP increased its position 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 worth $2,214,000 after buying an additional 2,169,593 shares during the period. Sprott Inc. lifted its stake in Trilogy Metals by 64.9% in the fourth quarter. Sprott Inc. now owns 2,094,652 shares of the mining company's stock valued at $2,430,000 after buying an additional 824,071 shares during the last quarter. Pinnbrook Capital Management LP acquired a new position in shares of Trilogy Metals during the fourth quarter valued at $615,000. Finally, Virtu Financial LLC grew its position in shares of Trilogy Metals by 85.7% during the third 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 during the last quarter. Institutional investors and hedge funds own 16.75% of the company's stock.

Analysts Set New Price Targets

Separately, Raymond James reiterated a "market perform" rating on shares of Trilogy Metals in a research report on Monday, March 24th.

Trilogy Metals Stock Performance

Shares of NYSEAMERICAN TMQ traded down $0.01 during midday trading on Wednesday, hitting $1.18. 134,059 shares of the company's stock were exchanged, compared to its average volume of 712,846. Trilogy Metals Inc. has a twelve month low of $0.25 and a twelve month high of $2.09. The stock has a market cap of $193.45 million, a price-to-earnings ratio of -23.50 and a beta of 1.54. The business's 50 day moving average is $1.44.

Trilogy Metals 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.