Trilogy Metals Inc (NYSE:TMQ) was the target of a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 816,155 shares, a drop of 0.1% from the October 13th total of 817,323 shares. Based on an average trading volume of 148,686 shares, the short-interest ratio is currently 5.5 days. Approximately 1.2% of the company’s stock are sold short.
A hedge fund recently bought a new stake in Trilogy Metals stock. GMT Capital Corp bought a new stake in Trilogy Metals Inc (NYSE:TMQ) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 664,006 shares of the company’s stock, valued at approximately $628,000. GMT Capital Corp owned approximately 0.63% of Trilogy Metals at the end of the most recent quarter.
Separately, Fundamental Research restated a “buy” rating and set a $2.15 price objective on shares of Trilogy Metals in a report on Friday, October 6th.
Trilogy Metals (NYSE:TMQ) opened at $0.98 on Tuesday. Trilogy Metals has a 12-month low of $0.43 and a 12-month high of $1.35.
About Trilogy Metals
Trilogy Metals Inc, formerly NovaCopper Inc, is a Canada-based base metals exploration company. The Company focuses on exploring and developing its mineral holdings in the Ambler mining district located in Alaska, the United States. The Company’s principal assets, the Upper Kobuk Mineral Projects (UKMP or UKMP Projects), are located in the Ambler mining district in Northwest Alaska.
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