Short Interest in Trilogy Metals Inc. (NYSEAMERICAN:TMQ) Expands By 90.0%

Trilogy Metals Inc. (NYSEAMERICAN:TMQ) saw a large increase in short interest in February. As of February 28th, there was short interest totalling 1,780,000 shares, an increase of 90.0% from the February 13th total of 936,800 shares. Based on an average daily volume of 456,900 shares, the short-interest ratio is presently 3.9 days. Currently, 1.8% of the shares of the stock are short sold.

Institutional Investors Weigh In On Trilogy Metals

Hedge funds have recently added to or reduced their stakes in the business. XTX Topco Ltd boosted its position in 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 buying an additional 33,636 shares during the period. Total Wealth Planning & Management Inc. acquired a new stake in Trilogy Metals during the 4th quarter worth approximately $119,000. Virtu Financial LLC boosted its position in Trilogy Metals by 85.7% during the 3rd 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 position in shares of Trilogy Metals in the 4th quarter worth approximately $221,000. Finally, Two Sigma Investments LP acquired a new position in shares of Trilogy Metals in the 4th quarter worth approximately $416,000. 16.75% of the stock is currently owned by institutional investors and hedge funds.

Trilogy Metals Stock Up 6.0 %

Shares of TMQ traded up $0.09 during mid-day trading on Friday, reaching $1.59. The company had a trading volume of 467,486 shares, compared to its average volume of 494,973. The business’s 50 day moving average price is $1.29. Trilogy Metals has a 1-year low of $0.25 and a 1-year high of $1.76. The company has a market cap of $260.66 million, a P/E ratio of -31.80 and a beta of 1.54.

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.