Short Interest in Trilogy Metals Inc. (NYSEAMERICAN:TMQ) Expands 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. Approximately 2.4% of the shares of the stock are sold short.

Trilogy Metals Price Performance

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

Trilogy Metals (NYSEAMERICAN:TMQ) last released its quarterly earnings data on Wednesday, October 9th. The mining company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). Equities analysts anticipate that Trilogy Metals will post -0.04 EPS for the current year.

Institutional Trading of Trilogy Metals

Several large investors have recently modified their holdings of the stock. Virtu Financial LLC boosted its holdings in Trilogy Metals by 85.7% during the 3rd quarter. Virtu Financial LLC now owns 133,678 shares of the mining company’s stock worth $65,000 after acquiring an additional 61,683 shares during the last quarter. Tidal Investments LLC purchased a new position in Trilogy Metals during the 1st quarter worth $525,000. Old West Investment Management LLC boosted its holdings in Trilogy Metals by 54.6% during the 2nd quarter. Old West Investment Management LLC now owns 3,098,931 shares of the mining company’s stock worth $1,549,000 after acquiring an additional 1,094,842 shares during the last quarter. Finally, Wexford Capital LP boosted its holdings in Trilogy Metals by 90.2% during 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 last quarter. Institutional investors and hedge funds own 16.75% of the company’s stock.

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.