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

Trilogy Metals Inc. (NYSEAMERICAN:TMQ) was the target of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 1,780,000 shares, a growth of 90.0% from the February 13th total of 936,800 shares. Based on an average daily trading volume, of 456,900 shares, the days-to-cover ratio is currently 3.9 days. Currently, 1.8% of the shares of the company are sold short.

Trilogy Metals Stock Performance

Shares of TMQ opened at $1.59 on Friday. Trilogy Metals has a 1 year low of $0.25 and a 1 year high of $1.76. The company has a fifty day moving average price of $1.29. The company has a market capitalization of $260.66 million, a price-to-earnings ratio of -31.80 and a beta of 1.54.

Institutional Investors Weigh In On Trilogy Metals

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