Sprott Inc. Trims Stock Position in Trilogy Metals Inc. $TMQ

Key Points

• Sprott Inc. has reduced its stake in Trilogy Metals Inc. by 9.8%, selling 205,875 shares during the first quarter, leaving it with approximately 1.15% ownership of the company valued at $2,928,000.
• Other institutional investors, such as Wexford Capital and Tidal Investments, have increased their positions in Trilogy Metals, indicating a mixed sentiment among hedge funds and institutional stakeholders.
• Trilogy Metals has a market capitalization of $271 million and recently reported earnings of (0.01) EPS, aligning with analysts' estimates.

Sprott Inc. trimmed its stake in shares of Trilogy Metals Inc. (NYSEAMERICAN:TMQ - Free Report) by 9.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,888,777 shares of the mining company's stock after selling 205,875 shares during the period. Sprott Inc. owned 1.15% of Trilogy Metals worth $2,928,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. XTX Topco Ltd lifted its holdings in Trilogy Metals by 235.5% during the fourth 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 Trilogy Metals during the first quarter valued at $83,000. Total Wealth Planning & Management Inc. purchased a new position in Trilogy Metals during the fourth quarter valued at $119,000. Two Sigma Advisers LP purchased a new position in Trilogy Metals during the fourth quarter valued at $221,000. Finally, Legacy Capital Group California Inc. purchased a new position in Trilogy Metals during the first quarter valued at $232,000. 16.75% of the stock is owned by hedge funds and other institutional investors.

Trilogy Metals Trading Down 3.0%

TMQ traded down $0.05 during midday trading on Friday, hitting $1.60. 307,628 shares of the company traded hands, compared to its average volume of 404,706. The company has a market capitalization of $262.78 million, a price-to-earnings ratio of -32.00 and a beta of 1.17. Trilogy Metals Inc. has a 52-week low of $0.47 and a 52-week high of $2.0897. The business has a 50 day simple moving average of $1.60 and a two-hundred day simple moving average of $1.48.

Trilogy Metals (NYSEAMERICAN:TMQ - Get Free Report) last posted its quarterly earnings data on Thursday, July 10th. The mining company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). Equities research analysts anticipate that Trilogy Metals Inc. will post -0.03 earnings per share for the current year.

Insider Buying and Selling at Trilogy Metals

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 transaction, the director directly owned 143,638 shares of the company's stock, valued at approximately $249,930.12. This trade represents a 25.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate 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.