Trilogy Metals Inc (NYSE:TMQ) was the target of a large drop in short interest during the month of July. As of July 31st, there was short interest totalling 824,419 shares, a drop of 2.0% from the July 14th total of 841,221 shares. Currently, 1.3% of the company’s shares are short sold. Based on an average daily trading volume, of 539,622 shares, the short-interest ratio is presently 1.5 days.

Shares of Trilogy Metals (NYSE TMQ) opened at 1.21 on Thursday. The stock’s 50 day moving average is $0.82 and its 200-day moving average is $0.64. Trilogy Metals has a one year low of $0.41 and a one year high of $1.26. The firm’s market cap is $127.72 million.

Separately, Roth Capital initiated coverage on shares of Trilogy Metals in a report on Monday, June 12th. They set a “buy” rating and a $1.50 price target for the company.

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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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