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

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

Trilogy Metals Trading Down 1.6 %

Shares of NYSEAMERICAN TMQ traded down $0.02 during trading on Wednesday, reaching $1.23. 135,247 shares of the stock were exchanged, compared to its average volume of 644,727. The stock has a market cap of $197.91 million, a P/E ratio of -20.83 and a beta of 1.32. Trilogy Metals has a twelve month low of $0.25 and a twelve month high of $1.40.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Virtu Financial LLC lifted its position 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 worth $65,000 after purchasing an additional 61,683 shares in the last quarter. Tidal Investments LLC purchased a new position in Trilogy Metals in the first quarter valued at about $525,000. Old West Investment Management LLC increased its position in Trilogy Metals by 54.6% during the second quarter. Old West Investment Management LLC now owns 3,098,931 shares of the mining company’s stock worth $1,549,000 after buying an additional 1,094,842 shares during the last quarter. Finally, Wexford Capital LP raised its holdings in Trilogy Metals by 90.2% in the 3rd quarter. Wexford Capital LP now owns 4,574,292 shares of the mining company’s stock worth $2,214,000 after acquiring an additional 2,169,593 shares during the period. 16.75% of the stock is owned by institutional investors and hedge funds.

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.