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

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

Institutional Investors Weigh In On Trilogy Metals

A number of hedge funds have recently made changes to their positions in TMQ. Virtu Financial LLC lifted its holdings in Trilogy Metals by 85.7% during the third quarter. Virtu Financial LLC now owns 133,678 shares of the mining company's stock valued at $65,000 after purchasing an additional 61,683 shares during the last quarter. Old West Investment Management LLC raised its stake in shares of Trilogy Metals by 54.6% during 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 purchasing an additional 1,094,842 shares during the period. Finally, Wexford Capital LP lifted its holdings in Trilogy Metals by 90.2% during the 3rd quarter. Wexford Capital LP now owns 4,574,292 shares of the mining company's stock worth $2,214,000 after purchasing an additional 2,169,593 shares in the last quarter. 16.75% of the stock is currently owned by institutional investors.

Trilogy Metals Price Performance

Trilogy Metals stock remained flat at $1.13 during trading hours on Friday. The company's stock had a trading volume of 141,426 shares, compared to its average volume of 637,872. The company has a market capitalization of $181.82 million, a P/E ratio of -18.83 and a beta of 1.59. Trilogy Metals has a 1 year low of $0.25 and a 1 year high of $1.40.

Trilogy Metals (NYSEAMERICAN:TMQ - Get Free Report) last released its earnings results on Wednesday, October 9th. The mining company reported ($0.01) EPS for the quarter, hitting the consensus estimate of ($0.01). On average, equities research analysts forecast that Trilogy Metals will post -0.04 EPS for the current year.

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.