Trilogy Metals Inc (NYSEAMERICAN:TMQ) saw a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 418,300 shares, a growth of 305.3% from the July 31st total of 103,200 shares. Based on an average daily trading volume, of 348,500 shares, the short-interest ratio is currently 1.2 days. Currently, 0.5% of the company’s shares are sold short.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Jefferies Group LLC grew its stake in Trilogy Metals by 1.9% during the second quarter. Jefferies Group LLC now owns 500,000 shares of the mining company’s stock worth $1,475,000 after purchasing an additional 9,137 shares during the period. Bank of Montreal Can increased its stake in shares of Trilogy Metals by 1,045.3% in the 1st quarter. Bank of Montreal Can now owns 13,148 shares of the mining company’s stock valued at $33,000 after acquiring an additional 12,000 shares in the last quarter. Citadel Advisors LLC acquired a new position in shares of Trilogy Metals during the 2nd quarter valued at $80,000. Renaissance Technologies LLC lifted its position in shares of Trilogy Metals by 19.8% during the 2nd quarter. Renaissance Technologies LLC now owns 173,400 shares of the mining company’s stock valued at $512,000 after acquiring an additional 28,700 shares during the period. Finally, Susquehanna International Group LLP boosted its stake in Trilogy Metals by 143.7% during the second quarter. Susquehanna International Group LLP now owns 66,461 shares of the mining company’s stock worth $196,000 after acquiring an additional 39,184 shares in the last quarter.
Separately, Zacks Investment Research upgraded shares of Trilogy Metals from a “hold” rating to a “strong-buy” rating and set a $2.25 price objective for the company in a research report on Friday, August 30th.
Trilogy Metals (NYSEAMERICAN:TMQ) last announced its quarterly earnings results on Tuesday, July 9th. The mining company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.02.
About Trilogy Metals
Trilogy Metals Inc, a base metals exploration company, explores for and develops mineral properties in the United States. It principally holds interests in the Upper Kobuk mineral projects that include the Arctic copper-zinc-lead-gold-silver project and Bornite carbonate-hosted copper project covering an area of approximately 355,400 acres located in the Ambler mining district in Northwest Alaska.
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