Short Interest in Trilogy Metals Inc. (NYSEAMERICAN:TMQ) Expands By 877.0%

Trilogy Metals Inc. (NYSEAMERICAN:TMQ) was the recipient of a significant increase in short interest in November. As of November 15th, there was short interest totalling 2,420,000 shares, an increase of 877.0% from the October 31st total of 247,700 shares. Based on an average daily trading volume, of 1,640,000 shares, the days-to-cover ratio is currently 1.5 days. Approximately 2.4% of the company’s stock are sold short.

Hedge Funds Weigh In On Trilogy Metals

A number of institutional investors have recently added to or reduced their stakes in TMQ. Virtu Financial LLC increased its holdings in shares of Trilogy Metals by 85.7% in 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. Tidal Investments LLC acquired a new position in shares of Trilogy Metals in the first quarter valued at $525,000. Old West Investment Management LLC increased its holdings in shares of 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 holdings in shares of 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. 16.75% of the stock is currently owned by institutional investors and hedge funds.

Trilogy Metals Stock Performance

TMQ traded down $0.04 during trading on Thursday, reaching $1.21. The company had a trading volume of 180,566 shares, compared to its average volume of 644,950. Trilogy Metals has a 12 month low of $0.25 and a 12 month high of $1.40. The firm has a market cap of $194.69 million, a P/E ratio of -20.17 and a beta of 1.32.

Trilogy Metals (NYSEAMERICAN:TMQ) last announced its quarterly earnings data on Wednesday, October 9th. The mining company reported ($0.01) EPS for the quarter, hitting analysts’ consensus estimates of ($0.01). On average, sell-side analysts anticipate that Trilogy Metals will post -0.04 earnings per share for the current fiscal 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.