Trilogy Metals Inc. (NYSEAMERICAN:TMQ) Short Interest Up 90.0% in February

Trilogy Metals Inc. (NYSEAMERICAN:TMQ) was the recipient of a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 1,780,000 shares, a growth of 90.0% from the February 13th total of 936,800 shares. Approximately 1.8% of the company’s stock are short sold. Based on an average daily volume of 456,900 shares, the days-to-cover ratio is currently 3.9 days.

Hedge Funds Weigh In On Trilogy Metals

Hedge funds have recently modified their holdings of the stock. Old West Investment Management LLC grew its holdings in shares of Trilogy Metals by 152.7% in the 3rd quarter. Old West Investment Management LLC now owns 7,830,209 shares of the mining company’s stock valued at $3,915,000 after acquiring an additional 4,731,278 shares in the last quarter. Wexford Capital LP grew its holdings in shares of Trilogy Metals by 90.2% in the 3rd quarter. Wexford Capital LP now owns 4,574,292 shares of the mining company’s stock valued at $2,214,000 after acquiring an additional 2,169,593 shares in the last quarter. Sprott Inc. grew its holdings in shares of Trilogy Metals by 64.9% in the 4th quarter. Sprott Inc. now owns 2,094,652 shares of the mining company’s stock valued at $2,430,000 after acquiring an additional 824,071 shares in the last quarter. Virtu Financial LLC grew its holdings in shares of Trilogy Metals by 85.7% in the 3rd quarter. Virtu Financial LLC now owns 133,678 shares of the mining company’s stock valued at $65,000 after acquiring an additional 61,683 shares in the last quarter. Finally, Pinnbrook Capital Management LP bought a new position in shares of Trilogy Metals in the 4th quarter valued at about $615,000. Institutional investors own 16.75% of the company’s stock.

Trilogy Metals Trading Up 6.0 %

Shares of TMQ traded up $0.09 during midday trading on Friday, hitting $1.59. The stock had a trading volume of 467,486 shares, compared to its average volume of 494,973. The firm has a 50 day moving average of $1.29. Trilogy Metals has a twelve month low of $0.25 and a twelve month high of $1.76. The firm has a market capitalization of $260.66 million, a price-to-earnings ratio of -31.80 and a beta of 1.54.

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.