Trilogy Metals Inc. (NYSEAMERICAN:TMQ) Stake Increased by Old West Investment Management LLC

Old West Investment Management LLC raised its stake in shares of Trilogy Metals Inc. (NYSEAMERICAN:TMQ) by 252.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,929,140 shares of the mining company’s stock after acquiring an additional 7,830,209 shares during the quarter. Trilogy Metals makes up 2.0% of Old West Investment Management LLC’s portfolio, making the stock its 20th biggest position. Old West Investment Management LLC owned 6.81% of Trilogy Metals worth $5,465,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Separately, Tidal Investments LLC acquired a new stake in shares of Trilogy Metals during the first quarter worth $525,000. Institutional investors and hedge funds own 16.75% of the company’s stock.

Trilogy Metals Stock Performance

Shares of Trilogy Metals stock opened at $0.57 on Wednesday. Trilogy Metals Inc. has a 52 week low of $0.25 and a 52 week high of $0.71. The stock has a market capitalization of $91.55 million, a price-to-earnings ratio of -9.48 and a beta of 1.32.

Trilogy Metals (NYSEAMERICAN:TMQ) last released its quarterly earnings data on Wednesday, October 9th. The mining company reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). As a group, analysts predict that Trilogy Metals Inc. will post -0.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, TD Securities lowered Trilogy Metals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 11th.

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.