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

Trilogy Metals Inc. (NYSEAMERICAN:TMQ) was the recipient of a large drop in short interest during the month of December. As of December 15th, there was short interest totalling 1,450,000 shares, a drop of 19.9% from the November 30th total of 1,810,000 shares. Currently, 1.5% of the company’s shares are short sold. Based on an average trading volume of 1,710,000 shares, the short-interest ratio is presently 0.8 days.

Trilogy Metals Stock Performance

Shares of Trilogy Metals stock traded up $0.02 on Tuesday, reaching $1.16. The company had a trading volume of 110,083 shares, compared to its average volume of 619,863. The stock has a market cap of $186.86 million, a price-to-earnings ratio of -19.33 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) last issued its quarterly earnings results on Wednesday, October 9th. The mining company reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.01). Sell-side analysts predict that Trilogy Metals will post -0.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Trilogy Metals

A number of large investors have recently made changes to their positions in TMQ. Old West Investment Management LLC boosted its holdings 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 valued at $5,465,000 after acquiring an additional 7,830,209 shares during the period. Wexford Capital LP lifted its position in shares of Trilogy Metals by 90.2% during the third 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 during the last quarter. Finally, Virtu Financial LLC boosted its stake in shares of 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 period. 16.75% of the stock is owned by hedge funds and other 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.