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

Trilogy Metals Inc. (NYSEAMERICAN:TMQ - Get Free Report) was the recipient of a significant decline in short interest in the month of January. As of January 31st, there was short interest totalling 1,020,000 shares, a decline of 17.7% from the January 15th total of 1,240,000 shares. Based on an average daily trading volume, of 1,770,000 shares, the short-interest ratio is currently 0.6 days. Currently, 1.1% of the company's stock are short sold.

Trilogy Metals Stock Up 6.1 %

Trilogy Metals stock traded up $0.08 during trading hours on Wednesday, hitting $1.40. The stock had a trading volume of 930,952 shares, compared to its average volume of 336,509. Trilogy Metals has a fifty-two week low of $0.25 and a fifty-two week high of $1.48. The stock has a market cap of $226.00 million, a price-to-earnings ratio of -28.00 and a beta of 1.54.

Institutional Trading of Trilogy Metals

Several hedge funds have recently modified their holdings of TMQ. Old West Investment Management LLC increased its stake in Trilogy Metals by 252.7% during the 3rd quarter. Old West Investment Management LLC now owns 10,929,140 shares of the mining company's stock worth $5,465,000 after purchasing an additional 7,830,209 shares in the last quarter. Wexford Capital LP boosted its holdings in Trilogy Metals by 15.5% during the fourth quarter. Wexford Capital LP now owns 5,282,761 shares of the mining company's stock worth $6,128,000 after purchasing an additional 708,469 shares during the last quarter. Foursixthree Capital LP bought a new stake in Trilogy Metals during the 4th quarter worth about $2,954,000. Sprott Inc. raised its stake in shares of Trilogy Metals by 64.9% during the 4th quarter. Sprott Inc. now owns 2,094,652 shares of the mining company's stock worth $2,430,000 after purchasing an additional 824,071 shares in the last quarter. Finally, Tidal Investments LLC grew its position in shares of Trilogy Metals by 73.5% in the 4th quarter. Tidal Investments LLC now owns 1,848,427 shares of the mining company's stock valued at $2,144,000 after acquiring an additional 782,929 shares during the period. 16.75% of the stock is owned by institutional investors.

About Trilogy Metals

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.