Short Interest in Trilogy Metals Inc. (NYSEAMERICAN:TMQ) Decreases By 28.2%

Trilogy Metals Inc. (NYSEAMERICAN:TMQ) saw a large drop in short interest in 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. Currently, 0.2% of the shares of the stock are short sold. Based on an average daily volume of 239,500 shares, the short-interest ratio is presently 0.9 days.

Wall Street Analyst Weigh In

Separately, TD Securities lowered shares of Trilogy Metals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 11th.

Institutional Investors Weigh In On Trilogy Metals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Old West Investment Management LLC grew its position in shares of Trilogy Metals by 438.1% in the 4th quarter. Old West Investment Management LLC now owns 533,490 shares of the mining company’s stock worth $229,000 after buying an additional 434,352 shares during the period. Goehring & Rozencwajg Associates LLC grew its position in 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 purchasing an additional 47,310 shares during the last quarter. TSP Capital Management Group LLC grew its position in Trilogy Metals by 5.1% during 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 last quarter. Tidal Investments LLC purchased a new stake in Trilogy Metals during the 1st quarter valued at about $525,000. Finally, Virtu Financial LLC grew its position in Trilogy Metals by 301.1% during the 1st quarter. Virtu Financial LLC now owns 186,226 shares of the mining company’s stock valued at $93,000 after purchasing an additional 139,798 shares during the last quarter. 16.75% of the stock is currently owned by institutional investors.

Trilogy Metals Price Performance

Shares of TMQ traded up $0.00 during trading hours on Monday, reaching $0.50. 34,344 shares of the stock traded hands, compared to its average volume of 243,076. Trilogy Metals has a 52 week low of $0.25 and a 52 week high of $0.71. The firm has a market capitalization of $79.47 million, a P/E ratio of -6.18 and a beta of 1.38.

Trilogy Metals (NYSEAMERICAN:TMQ) last posted its earnings results on Friday, July 12th. The mining company reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). On average, equities research analysts expect that Trilogy Metals will post -0.04 earnings per share for the current year.

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.