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

Trilogy Metals Inc. (NYSEAMERICAN:TMQ) was the recipient of a large decline in short interest during the month of January. As of January 31st, there was short interest totalling 1,020,000 shares, a decline of 17.7% from the January 15th total of 1,240,000 shares. Based on an average trading volume of 1,770,000 shares, the days-to-cover ratio is currently 0.6 days. Currently, 1.1% of the company’s shares are sold short.

Trilogy Metals Price Performance

Shares of TMQ stock opened at $1.35 on Friday. The stock has a market cap of $217.93 million, a P/E ratio of -22.50 and a beta of 1.54. Trilogy Metals has a 1-year low of $0.25 and a 1-year high of $1.48.

Institutional Trading of Trilogy Metals

A number of institutional investors have recently modified their holdings of the company. Old West Investment Management LLC lifted its stake in Trilogy Metals by 252.7% in the third quarter. Old West Investment Management LLC now owns 10,929,140 shares of the mining company’s stock worth $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% in the 3rd 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 period. Foursixthree Capital LP bought a new stake in shares of Trilogy Metals during the 4th quarter valued at about $2,954,000. Sprott Inc. increased its position in shares of Trilogy Metals by 64.9% during the fourth quarter. Sprott Inc. now owns 2,094,652 shares of the mining company’s stock valued at $2,430,000 after buying an additional 824,071 shares during the period. Finally, Bornite Capital Management LP bought a new position in Trilogy Metals in the fourth quarter worth about $812,000. 16.75% of the stock is currently 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.