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

Trilogy Metals Inc. (NYSEAMERICAN:TMQ - Get Free Report) was the target of a large drop in short interest in the month of 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 trading volume of 239,500 shares, the short-interest ratio is presently 0.9 days. Approximately 0.2% of the shares of the company are short sold.

Trilogy Metals Trading Down 1.2 %

Shares of NYSEAMERICAN:TMQ traded down $0.01 during trading hours on Friday, hitting $0.49. 91,669 shares of the company's stock traded hands, compared to its average volume of 244,255. The firm has a market cap of $79.32 million, a price-to-earnings ratio of -6.18 and a beta of 1.38. Trilogy Metals has a 52 week low of $0.25 and a 52 week high of $0.71.

Trilogy Metals (NYSEAMERICAN:TMQ - Get Free Report) last announced its quarterly earnings data on Friday, July 12th. The mining company reported ($0.01) EPS for the quarter, meeting analysts' consensus estimates of ($0.01). On average, research analysts forecast that Trilogy Metals will post -0.04 earnings per share for the current year.

Analyst Ratings Changes

Separately, TD Securities lowered Trilogy Metals from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 11th.

Hedge Funds Weigh In On Trilogy Metals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. TSP Capital Management Group LLC increased its holdings in shares of Trilogy Metals by 5.1% in the 1st quarter. TSP Capital Management Group LLC now owns 5,027,500 shares of the mining company's stock valued at $2,514,000 after purchasing an additional 245,000 shares during the period. Old West Investment Management LLC lifted its position 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 worth $1,549,000 after buying an additional 1,094,842 shares in the last quarter. Goehring & Rozencwajg Associates LLC boosted its stake in shares of Trilogy Metals by 3.0% during 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. Tidal Investments LLC purchased a new position in shares of Trilogy Metals during the 1st quarter valued at $525,000. Finally, Virtu Financial LLC increased its stake in shares of Trilogy Metals by 301.1% in the first quarter. Virtu Financial LLC now owns 186,226 shares of the mining company's stock worth $93,000 after acquiring an additional 139,798 shares during the last quarter. 16.75% of the stock is currently owned by hedge funds and other institutional investors.

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.