On September 15th, Trilogy Metals Inc. (NYSE:$TMQ) saw its shares experience a dramatic decline in short-term interest. From the August 31st total of 908,706 shares, there was an 8.9% drop in short interest shares, resulting in a total of 828,240. The days-to-cover ratio is currently 4.9 days, based on an average trading volume of 167,894 shares. In total, roughly 1.2% of the shares stock are sold short.

Trilogy Metals is a Canadian base metals exploration company. It specializes in exploring and developing mineral holdings and currently operate in the Ambler mining district in Alaska. The company has assets in the Upper Kobuk Mineral Projects, also located in Northwest Alaska. It was formerly known as NovaCopper Inc.

In a report on Monday, June 12th, Roth Capital started coverage of Trilogy Metals with a ‘Buy’ rating and a target price of $1.50 for the company’s shares.

On Wednesday, shares of Trilogy opened at $0.9443. The stock currently holds a 52 week high of $1.35 and a 52 week low $0.41. It also has 50- and 200-day moving averages of $1.07 and $0.77. The current market cap is $99.67 million.

Trilogy Metals Inc. is a metals exploration company based in Canada.

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