250,000 Shares in Trilogy Metals Inc. $TMQ Acquired by DLD Asset Management LP

Key Points

• DLD Asset Management LP has acquired a new position in Trilogy Metals Inc., purchasing 250,000 shares valued at approximately $388,000.
• Several hedge funds have increased their stakes in Trilogy Metals, with Old West Investment Management boosting its ownership by 61.1%, now holding over 12.6 million shares.
• Insider trading activity included Director William L. Iggiagruk Hensley selling 50,000 shares for a total of $87,000, reducing his stake in the company by 25.82%.

DLD Asset Management LP acquired a new position in Trilogy Metals Inc. (NYSEAMERICAN:TMQ - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 250,000 shares of the mining company's stock, valued at approximately $388,000. DLD Asset Management LP owned 0.15% of Trilogy Metals as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Virtu Financial LLC purchased a new stake in shares of Trilogy Metals during the first quarter valued at approximately $83,000. Total Wealth Planning & Management Inc. bought a new position in Trilogy Metals during the fourth quarter valued at approximately $119,000. Two Sigma Advisers LP bought a new position in Trilogy Metals during the fourth quarter valued at approximately $221,000. Legacy Capital Group California Inc. bought a new position in Trilogy Metals during the first quarter valued at approximately $232,000. Finally, Envestnet Asset Management Inc. bought a new position in Trilogy Metals during the first quarter valued at approximately $396,000. Hedge funds and other institutional investors own 16.75% of the company's stock.

Insider Activity

In other news, Director William L. Iggiagruk Hensley sold 50,000 shares of the firm's 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 completion of the sale, the director owned 143,638 shares in the company, valued at approximately $249,930.12. This trade represents a 25.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 15.20% of the company's stock.

Trilogy Metals Price Performance

Trilogy Metals stock traded up $0.03 during midday trading on Monday, reaching $2.13. 689,796 shares of the company traded hands, compared to its average volume of 553,860. Trilogy Metals Inc. has a 12 month low of $0.47 and a 12 month high of $2.19. The firm has a market capitalization of $349.94 million, a price-to-earnings ratio of -42.60 and a beta of 1.19. The business has a 50 day moving average of $1.73 and a two-hundred day moving average of $1.54.

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

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.