Trilogy Metals Inc. (NYSEAMERICAN:TMQ) Short Interest Update

Trilogy Metals Inc. (NYSEAMERICAN:TMQ - Get Free Report) was the recipient of a large increase in short interest during the month of May. As of May 15th, there was short interest totalling 1,510,000 shares, an increase of 81.8% from the April 30th total of 830,500 shares. Currently, 1.5% of the shares of the company are sold short. Based on an average daily volume of 620,100 shares, the days-to-cover ratio is presently 2.4 days.

Wall Street Analysts Forecast Growth

Separately, Raymond James reaffirmed a "market perform" rating on shares of Trilogy Metals in a report on Monday, March 24th.

Trilogy Metals Stock Performance

Shares of TMQ stock traded up $0.01 during trading hours on Wednesday, hitting $1.30. The company had a trading volume of 269,197 shares, compared to its average volume of 763,116. Trilogy Metals has a 12 month low of $0.42 and a 12 month high of $2.09. The firm's fifty day moving average is $1.42 and its 200 day moving average is $1.19. The firm has a market capitalization of $213.12 million, a price-to-earnings ratio of -26.00 and a beta of 1.54.

Institutional Investors Weigh In On Trilogy Metals

Large investors have recently made changes to their positions in the company. DLD Asset Management LP bought a new position in shares of Trilogy Metals in the first quarter valued at about $388,000. Old West Investment Management LLC increased its position in Trilogy Metals by 61.1% in the 1st quarter. Old West Investment Management LLC now owns 12,611,879 shares of the mining company's stock valued at $19,611,000 after acquiring an additional 4,781,670 shares in the last quarter. Bornite Capital Management LP raised its stake in shares of Trilogy Metals by 42.9% in the first quarter. Bornite Capital Management LP now owns 1,000,000 shares of the mining company's stock worth $1,550,000 after acquiring an additional 300,000 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Trilogy Metals during the first quarter worth approximately $83,000. Finally, Legacy Capital Group California Inc. acquired a new position in shares of Trilogy Metals during the first quarter worth approximately $232,000. Institutional investors own 16.75% of the company's stock.

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.