Trilogy Metals Inc. (NYSEAMERICAN:TMQ) Sees Significant Growth in Short Interest

Key Points

• Trilogy Metals Inc. experienced a significant rise in short interest, with a 260.7% increase from July to August, totaling 874,700 shares short sold, representing 0.9% of the company's stock.
• The stock price for Trilogy Metals is currently $1.61, with a market capitalization of $263.61 million and a 1-year price fluctuation between $0.47 and $2.09.
• Recent insider activity included Director William L. Iggiagruk Hensley selling 50,000 shares at an average price of $1.74, reducing his position by 25.82%.

Trilogy Metals Inc. (NYSEAMERICAN:TMQ - Get Free Report) was the target of a large increase in short interest in August. As of August 15th, there was short interest totaling 874,700 shares, anincreaseof260.7% from the July 31st total of 242,500 shares. Currently,0.9% of the company's stock are short sold. Based on an average trading volume of 465,700 shares, the days-to-cover ratio is presently 1.9 days. Based on an average trading volume of 465,700 shares, the days-to-cover ratio is presently 1.9 days. Currently,0.9% of the company's stock are short sold.

Trilogy Metals Stock Performance

Shares of NYSEAMERICAN:TMQ traded down $0.02 on Wednesday, hitting $1.61. 114,717 shares of the company's stock were exchanged, compared to its average volume of 540,449. The firm's 50-day moving average is $1.64 and its 200 day moving average is $1.50. The company has a market capitalization of $263.61 million, a PE ratio of -32.10 and a beta of 1.19. Trilogy Metals has a 1-year low of $0.47 and a 1-year high of $2.09.

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

Insider Activity

In other news, Director William L. Iggiagruk Hensley sold 50,000 shares of the company's stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $1.74, for a total transaction of $87,000.00. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 15.20% of the company's stock.

Institutional Trading of Trilogy Metals

Institutional investors and hedge funds have recently made changes to their positions in the company. Two Sigma Investments LP purchased a new stake in shares of Trilogy Metals in the 4th quarter valued at about $416,000. Two Sigma Advisers LP purchased a new stake in shares of Trilogy Metals in the 4th quarter valued at about $221,000. Envestnet Asset Management Inc. purchased a new stake in shares of Trilogy Metals in the 1st quarter valued at about $396,000. Tidal Investments LLC lifted its holdings in shares of 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 purchasing an additional 782,929 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Trilogy Metals in the 1st quarter valued at about $83,000. 16.75% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.