Bornite Capital Management LP Has $1.55 Million Stake in Trilogy Metals Inc. (NYSEAMERICAN:TMQ)

Key Points

• Bornite Capital Management LP increased its stake in Trilogy Metals Inc. by 42.9%, owning 1,000,000 shares valued at approximately $1.55 million.
• Institutional investors and hedge funds collectively own 16.75% of Trilogy Metals, indicating notable interest in the mining company's stock.
• Trilogy Metals recently reported (0.01) EPS for the last quarter, which met analysts' expectations, and its stock is currently up 1.3% to $1.52.

Bornite Capital Management LP raised its stake in shares of Trilogy Metals Inc. (NYSEAMERICAN:TMQ - Free Report) by 42.9% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 1,000,000 shares of the mining company's stock after purchasing an additional 300,000 shares during the period. Trilogy Metals makes up approximately 0.4% of Bornite Capital Management LP's portfolio, making the stock its 21st biggest holding. Bornite Capital Management LP owned about 0.61% of Trilogy Metals worth $1,550,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in TMQ. Foursixthree Capital LP bought a new stake in shares of Trilogy Metals during the 4th quarter valued at $2,954,000. Tidal Investments LLC increased its holdings in Trilogy Metals by 73.5% in the 4th quarter. Tidal Investments LLC now owns 1,848,427 shares of the mining company's stock valued at $2,144,000 after acquiring an additional 782,929 shares during the last quarter. Wexford Capital LP increased its holdings in Trilogy Metals by 15.5% in the 4th quarter. Wexford Capital LP now owns 5,282,761 shares of the mining company's stock valued at $6,128,000 after acquiring an additional 708,469 shares during the last quarter. Two Sigma Investments LP bought a new stake in Trilogy Metals in the 4th quarter valued at $416,000. Finally, Envestnet Asset Management Inc. bought a new stake in Trilogy Metals in the 1st quarter valued at $396,000. Institutional investors and hedge funds own 16.75% of the company's stock.

Trilogy Metals Stock Up 1.3%

Trilogy Metals stock opened at $1.52 on Friday. The company's 50-day moving average price is $1.54 and its 200-day moving average price is $1.44. Trilogy Metals Inc. has a twelve month low of $0.47 and a twelve month high of $2.09. The company has a market cap of $249.64 million, a PE ratio of -30.40 and a beta of 1.17.

Trilogy Metals (NYSEAMERICAN:TMQ - Get Free Report) last released its quarterly earnings results on Thursday, July 10th. The mining company reported ($0.01) EPS for the quarter, hitting analysts' consensus estimates of ($0.01). As a group, sell-side analysts expect that Trilogy Metals Inc. will post -0.03 earnings per share for the current fiscal year.

Insider Buying and Selling at Trilogy Metals

In other news, Director William L. Iggiagruk Hensley sold 50,000 shares of the company's stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $1.74, for a total value of $87,000.00. Following the completion of the sale, the director owned 143,638 shares of the company's stock, valued at approximately $249,930.12. This represents a 25.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 15.20% 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.

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