Trilogy Metals Inc (NYSE:TMQ) was the target of a large drop in short interest during the month of October. As of October 13th, there was short interest totalling 817,323 shares, a drop of 3.2% from the September 29th total of 844,621 shares. Based on an average daily trading volume, of 262,144 shares, the days-to-cover ratio is presently 3.1 days. Approximately 1.2% of the shares of the company are sold short.

Separately, Fundamental Research reiterated a “buy” rating and issued a $2.15 target price on shares of Trilogy Metals in a research note on Friday, October 6th.

Shares of Trilogy Metals (NYSE TMQ) opened at 1.0205 on Wednesday. Trilogy Metals has a 52-week low of $0.41 and a 52-week high of $1.35. The firm has a 50-day moving average of $0.99 and a 200 day moving average of $0.86. The firm’s market capitalization is $107.84 million.

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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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