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

Trilogy Metals Inc. (NYSEAMERICAN:TMQ - Get Free Report) was the target of a significant drop in short interest in March. As of March 31st, there was short interest totalling 1,170,000 shares, a drop of 28.7% from the March 15th total of 1,640,000 shares. Based on an average trading volume of 553,300 shares, the days-to-cover ratio is presently 2.1 days. Approximately 1.2% of the shares of the stock are short sold.

Analyst Ratings Changes

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

Trilogy Metals Trading Up 3.0 %

NYSEAMERICAN:TMQ traded up $0.04 during trading hours on Wednesday, hitting $1.36. The company had a trading volume of 157,980 shares, compared to its average volume of 700,101. Trilogy Metals has a 1 year low of $0.39 and a 1 year high of $2.09. The company has a market cap of $222.96 million, a P/E ratio of -27.20 and a beta of 1.54. The company has a 50-day moving average of $1.46 and a 200 day moving average of $1.12.

Hedge Funds Weigh In On Trilogy Metals

A number of institutional investors have recently bought and sold shares of the company. XTX Topco Ltd grew its holdings in shares of Trilogy Metals by 235.5% during the 4th quarter. XTX Topco Ltd now owns 47,920 shares of the mining company's stock worth $56,000 after purchasing an additional 33,636 shares during the period. Total Wealth Planning & Management Inc. acquired a new position in Trilogy Metals in the fourth quarter valued at about $119,000. Virtu Financial LLC boosted its stake in Trilogy Metals by 85.7% during the third quarter. Virtu Financial LLC now owns 133,678 shares of the mining company's stock worth $65,000 after buying an additional 61,683 shares during the period. Two Sigma Advisers LP acquired a new stake in shares of Trilogy Metals during the fourth quarter valued at about $221,000. Finally, Two Sigma Investments LP acquired a new stake in Trilogy Metals in the 4th quarter valued at approximately $416,000. 16.75% of the stock is owned by hedge funds and other institutional investors.

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.