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Trilogy Metals Inc. (TMQ) stock

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NYSE: TMQ NYSE Diversified Metals & Mining Next results ~January 4, 2027

Trilogy Metals Inc. is a US-listed company in the diversified metals & mining industry. Its financial year ends in November.

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 3 selling0 purchases and 5 sales by directors and officers, last 12 monthsInsider trades
  • Funds75 adding, 52 cuttingOf 16 active managers that changed their stake, 9 added; quarter to June 30, 2026Fund buyers and sellers

The Fundamentalytics view

Next results ~January 4, 2027 (estimated)

Current signal Results well short of expectations: Reported earnings per share missed the analysts' consensus estimate by 122% in the quarter to 2026-08-31.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

Nothing in Trilogy Metals Inc.'s latest figures clears our strength thresholds.

Things to watch

  • Volatile shares. Over the past year the shares showed annualised volatility of 74% and a beta of 2.7 against the S&P 500.
  • Insiders selling. 3 insiders sold $18M of stock over the past 365 days and none bought (0% under pre-set trading plans).
  • Missing expectations. Earnings per share fell short of the consensus estimate in 4 of the last four quarters.

Latest results

Earnings per share
-$0.09 against an average estimate of -$0.04: missed by 122.2%
Share reaction
-0.7% in the first session after the results on October 2, 2026, against +1.4% for the S&P 500
Next report
October 2, 2026; average EPS estimate -$0.03

Trilogy Metals' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-0.5%
  • 1 week+7.9%
  • 1 month-29.4%
  • This year-49.4%
  • 1 year-51.0%
  • 5 years+10.1%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Earnings

Last results
October 2, 2026
Next results (est.)
January 4, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Results
  3. Announcement
  4. Agreement
  5. Announcement
  6. Agreement
  7. Insider trade
  8. Announcement
  9. Announcement
  10. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Trilogy Metals Inc. valuation models and calculator

No model value for Trilogy Metals Inc. at the moment. Current status: limited reported history: available models are shown without a Buy/Hold/Sell rating. Available reported financials are shown below.

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: limited reported history: available models are shown without a Buy/Hold/Sell rating.

Valuation models

We value Trilogy Metals Inc. as an operating company, with every model that fits that kind of business. Cost of equity 10.9%: the 10-year Treasury yield (4.9%) plus a beta of 1.32 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: no twelve-month earnings or share count in the filings yet
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: no twelve-month earnings or share count in the filings yet
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: no twelve-month earnings or share count in the filings yet
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. — Does not apply: revenue and margins don't support a positive value
Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. — Does not apply: no twelve-month earnings or share count in the filings yet
Combined value Weighted average of the models that apply: the primary model (price-to-earnings vs peers) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. — No model applies: the filings don’t yet support a value.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Trilogy Metals Inc. with Diversified Metals & Mining in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$0.20 −108% — 0%
Next −$0.09 +54% — 0%

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +30.9% on 90 days ago. In the last 30 days, 0 analysts raised Trilogy Metals Inc.'s forecast and 1 cut it.

Consensus EPS forecast Trilogy Metals Inc., last 90 days
−$0.20 −$0.15 −$0.10 −$0.05 $0.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: −$0.15 Current fiscal year, 60 days ago: −$0.16 Current fiscal year, 30 days ago: −$0.16 Current fiscal year, 7 days ago: −$0.13 Current fiscal year, Now: −$0.20 −$0.20 Next fiscal year, 90 days ago: −$0.11 Next fiscal year, 60 days ago: −$0.13 Next fiscal year, 30 days ago: −$0.13 Next fiscal year, 7 days ago: −$0.09 Next fiscal year, Now: −$0.09 −$0.09

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago −$0.15−$0.11
60 days ago −$0.16−$0.13
30 days ago −$0.16−$0.13
7 days ago −$0.13−$0.09
Now −$0.20−$0.09

Earnings against estimates

Quarter toEstimateActualSurprise
Aug 2026 −$0.04 −$0.09 −122.2%
May 2026 −$0.03 −$0.04 −29.8%
Feb 2026 −$0.03 −$0.04 −60.5%
Nov 2025 −$0.01 −$0.03 −95.1%

Adjusted EPS as companies report it, against the average analyst estimate.

Analyst recommendations

6 analysts, Oct 2026
Buy350%
Hold350%
Sell00%

Monthly trend

  1. Oct 20261236
  2. Sep 20261236
  3. Aug 20262237
  4. Jul 20262327

Counts of recommendations published by analysts covering Trilogy Metals Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
6.3%
of tradable shares
Days to cover
6.17
at average volume
Short interest, 1 month
+0%
to October 15, 2026
Held by institutions
39%
of shares
Held by insiders
13.1%
of shares
Employees
5
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
TMQ−18%−67%−22%+170%+272%−49%
Industry peers (median)+33%−24%−1%−24%+47%−43%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
TMQ42%25%25%58%83%36%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
TMQ−51%−69%−51%−39%−67%−71%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 88% from June 25, 2019 to April 18, 2024. Getting back needed a 741% gain, reached on October 7, 2025, 537 days after the low.

Price behaviour

52-week range
$2.02 – $6.89
From 52-week high
−68.4%
vs 50-day average
−26.7%
vs 200-day average
−42.3%
Volatility (1 year)
74%
Beta vs S&P 500
2.70

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
5 up, 7 down
typical move ±3.9%
After a week
7 up, 5 down
typical move ±26.5%
After a month
7 up, 5 down
typical move ±31.6%
Results releasedNext dayS&P 500 next day5 days21 days
October 2, 2026 −0.7% +1.4% −8.5% −28.8%
July 8, 2026 +0.6% +0.5% −2.8% +11.5%
April 2, 2026 +1.6% +0.6% +2.9% +14.3%
February 17, 2026 −10.7% +0.7% +3.8% −15.2%
October 1, 2025 −0.5% +0.5% +200.5% +127.6%
July 10, 2025 +10.4% −0.1% +23.4% −1.3%
April 2, 2025 −0.6% −4.3% −18.9% +4.4%
February 14, 2025 +5.6% +0.3% +18.4% +26.4%
October 8, 2024 +2.0% +1.6% +4.1% +108.2%
July 10, 2024 0.0% +0.1% +23.1% +9.6%
April 3, 2024 −7.4% −1.1% −3.7% −24.1%
February 9, 2024 −6.1% +0.5% −8.2% −8.2%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Fundamentals

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms . Generated November 3, 2026. Definitions in our methodology.

Who owns it

Funds buying and selling
Reported value
$239M
Institutions reporting
146
Shares held vs prior quarter
▲ 8.3%
Positions opened / closed
24 / 20

Top buyers and sellers, Q2 2026: 75 institutions bought and 52 sold ; the biggest buyer was Tsp Capital Management Group, LLC (+6.8M shares) and the biggest seller Tidal Investments LLC (−1.5M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Electrum Group LLC $111M 31.6M 46.3% 0.0%
Tidal Investments LLC $29.5M 8.4M 12.3% ▼ 15.5%
Tsp Capital Management Group, LLC $23.8M 6.8M 9.9% New
Old West Investment Management, LLC $21.4M 6.1M 8.9% ▲ 29.6%
Goehring & Rozencwajg Associates, LLC $6.2M 1.8M 2.6% ▲ 2.7%
Alps Advisors Inc $5.2M 1.5M 2.2% ▼ 20.8%
Marshall Wace, LLP $4.8M 1.4M 2.0% ▼ 16.7%
Morgan Stanley $3.3M 936K 1.4% ▲ 103.9%
Envestnet Asset Management Inc $3.2M 909K 1.3% ▼ 6.7%
Point72 Asset Management, L.P. $3.1M 878K 1.3% ▲ 155.9%
Citadel Advisors LLC $2.8M 797K 1.2% ▲ 158.1%
Blackrock, Inc. $1.7M 490K 0.7% ▲ 20.2%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Trilogy Metals Inc.'s complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $18.5M 5 trades by 3 insiders · 0% under pre-set plans
Net ▼ $18.5M net selling
Insider Date Trade Shares Price Value
South32 International Investment Holdings Proprietary Ltd 10% owner August 28, 2026 Sell 8,215,570 $2.17 $17.8M
Hensley William L. Iggiagruk Director May 8, 2026 Sell 50,000 $4.44 $222,000
Hensley William L. Iggiagruk Director February 26, 2026 Sell 25,107 $4.40 $110,471
Lang Gregory A. Director December 5, 2025 Sell 50,000 $4.77 $238,500
Lang Gregory A. Director December 5, 2025 Sell 20,000 $4.73 $94,600

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around January 4, 2027 estimated from the company's past filing pattern, not announced

  • October 2, 2026
  • July 8, 2026
  • April 2, 2026
  • February 17, 2026
  • October 1, 2025
  • July 10, 2025

Recent SEC filings

Data status

When each part of this page on Trilogy Metals Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Trilogy Metals Inc. in brief

What does Trilogy Metals Inc. do?
Trilogy Metals Inc. is a US-listed company in the diversified metals & mining industry. Its financial year ends in November.
What is Trilogy Metals Inc.'s stock ticker?
Trilogy Metals Inc. trades under the ticker TMQ on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
Who are Trilogy Metals Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Electrum Group LLC, Tidal Investments LLC and Tsp Capital Management Group, LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Are insiders buying or selling Trilogy Metals Inc. stock?
Over the last 12 months, Trilogy Metals Inc.'s directors and officers reported 0 open-market purchases and 5 sales on Form 4. The insider trading page charts every trade.
When is Trilogy Metals Inc.'s next earnings date?
Around January 4, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Trilogy Metals Inc. announces its own schedule.