Short Interest in Trilogy Metals Inc. (NYSEAMERICAN:TMQ) Decreases By 56.3%

Key Points

• Trilogy Metals Inc. experienced a significant decrease in short interest of 56.3% during August, bringing the total to 382,100 shares, which represents about 0.4% of the company's shares.
• The company's stock price is currently $2.10, with the shares trading down $0.04 and a market capitalization of $345.01 million.
• Institutional investors have increased their stakes in Trilogy Metals, with Old West Investment Management alone boosting its position by 61.1% in the first quarter.

Trilogy Metals Inc. (NYSEAMERICAN:TMQ - Get Free Report) was the recipient of a significant decrease in short interest in August. As of August 31st, there was short interest totaling 382,100 shares, a decrease of 56.3% from the August 15th total of 874,700 shares. Based on an average trading volume of 501,100 shares, the days-to-cover ratio is presently 0.8 days. Approximately 0.4% of the shares of the company are sold short. Approximately 0.4% of the shares of the company are sold short. Based on an average trading volume of 501,100 shares, the days-to-cover ratio is presently 0.8 days.

Trilogy Metals Price Performance

Shares of NYSEAMERICAN:TMQ traded down $0.06 on Thursday, hitting $2.05. The company had a trading volume of 264,586 shares, compared to its average volume of 505,878. Trilogy Metals has a 1-year low of $0.47 and a 1-year high of $2.19. The stock has a 50 day moving average price of $1.77 and a 200 day moving average price of $1.55.

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

Insider Transactions at Trilogy Metals

In other Trilogy Metals news, Director William L. Iggiagruk Hensley sold 50,000 shares of the company's stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $1.74, for a total transaction of $87,000.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 15.20% of the company's stock.

Institutional Trading of Trilogy Metals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Birchbrook Inc. increased its position in Trilogy Metals by 25.0% during the 1st quarter. Birchbrook Inc. now owns 50,000 shares of the mining company's stock valued at $78,000 after purchasing an additional 10,000 shares during the period. Virtu Financial LLC acquired a new stake in Trilogy Metals in the 1st quarter valued at $83,000. XTX Topco Ltd acquired a new stake in Trilogy Metals in the 2nd quarter valued at $115,000. Total Wealth Planning & Management Inc. acquired a new stake in Trilogy Metals in the 4th quarter valued at $119,000. Finally, Jane Street Group LLC acquired a new stake in Trilogy Metals in the 2nd quarter valued at $154,000. Institutional investors and hedge funds 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.