Trilogy Metals Inc. (NYSEAMERICAN:TMQ) Shares Bought by Bornite Capital Management LP

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 increased its holdings in shares of Trilogy Metals Inc. (NYSEAMERICAN:TMQ - Free Report) by 42.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,000,000 shares of the mining company's stock after purchasing an additional 300,000 shares during the period. Trilogy Metals accounts for 0.4% of Bornite Capital Management LP's investment portfolio, making the stock its 21st largest holding. Bornite Capital Management LP owned 0.61% of Trilogy Metals worth $1,550,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Goehring & Rozencwajg Associates LLC raised its position in Trilogy Metals by 0.8% during the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 1,402,797 shares of the mining company's stock worth $2,282,000 after buying an additional 10,600 shares during the last quarter. XTX Topco Ltd increased its holdings in shares of Trilogy Metals by 235.5% in the 4th quarter. XTX Topco Ltd now owns 47,920 shares of the mining company's stock valued at $56,000 after purchasing an additional 33,636 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Trilogy Metals in the 1st quarter valued at about $83,000. Total Wealth Planning & Management Inc. purchased a new position in shares of Trilogy Metals in the 4th quarter valued at about $119,000. Finally, Legacy Capital Group California Inc. purchased a new position in shares of Trilogy Metals in the 1st quarter valued at about $232,000. Institutional investors and hedge funds own 16.75% of the company's stock.

Insider Buying and Selling

In related news, Director William L. Iggiagruk Hensley sold 50,000 shares of the stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $1.74, for a total value of $87,000.00. Following the sale, the director directly 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 15.20% of the company's stock.

Trilogy Metals Trading Down 2.5%

Shares of TMQ traded down $0.04 during trading hours on Thursday, reaching $1.56. The company had a trading volume of 796,084 shares, compared to its average volume of 417,850. The firm has a 50 day simple moving average of $1.56 and a 200-day simple moving average of $1.45. The company has a market capitalization of $256.21 million, a price-to-earnings ratio of -31.20 and a beta of 1.17. Trilogy Metals Inc. has a 12-month low of $0.47 and a 12-month high of $2.09.

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

Trilogy Metals Company Profile

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.