(TMQ) Trilogy Metals - Overview
Sector: Basic Materials | Industry: Other Industrial Metals & Mining | Exchange: NYSE MKT (USA) | Market Cap: 702m USD | Total Return: 203.7% in 12m
Avg Turnover: 10.9M
Qual. Beats: 0
Qual. Beats: 0
Warnings
High Debt while negative Cash Flow
Interest Coverage Ratio -0.3 is critical
Altman Z'' -0.02 < 1.0 - financial distress zone
Choppy Below Avwap Earnings
Tailwinds
Rs(ibd) Leader
Trilogy Metals Inc. (TMQ) is a Vancouver-based exploration company focused on the development of critical and base metal assets in Alaska’s Ambler mining district. The company’s primary focus is the Upper Kobuk mineral projects, which include the Arctic polymetallic deposit and the Bornite copper-cobalt deposit. These holdings encompass approximately 448,217 acres and target a diverse range of resources including copper, cobalt, zinc, lead, gold, and silver.
As a development-stage mining firm, Trilogy Metals operates within a high-capital industry where project viability often depends on infrastructure access and long-term commodity price cycles. Copper and cobalt are increasingly classified as strategic minerals due to their essential roles in renewable energy infrastructure and battery technology. For a more comprehensive look at these industry trends, consider reviewing the data available on ValueRay.
The company, originally founded in 2004 as NovaCopper Inc., underwent a rebranding in 2016 to reflect its evolving project portfolio. Its business model centers on advancing exploration assets through the permitting and feasibility stages, often seeking joint venture partnerships to mitigate the significant financial risks associated with remote Alaskan mining operations.
- Ambler Access Project road permit status dictates project development timeline
- Copper and cobalt price volatility impacts valuation of Arctic deposit
- Joint venture funding requirements influence future cash position and dilution
- Environmental litigation and federal regulatory hurdles delay construction milestones
- High-grade polymetallic resource estimates drive long-term asset acquisition potential
| Net Income: error (cannot be calculated; needs Net Income TTM and Revenue TTM) |
| FCF/TA: -0.03 > 0.02 and ΔFCF/TA -1.88 > 1.0 |
| NWC/Revenue: error (cannot be calculated; needs Current Assets/Liabilities and Revenue current+prev) |
| CFO/TA -0.03 > 3% & CFO -5.24m > Net Income -45.7m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 1.46 > 1.5 & < 3 |
| Outstanding Shares: last quarter (171.9m) vs 12m ago 5.59% < -2% |
| Gross Margin: error (current vs previous; cannot be calculated due to missing/invalid data or negative margin) |
| Asset Turnover: 0.0% > 50% (prev 0.01%; Δ -0.01% > 0%) |
| Interest Coverage Ratio: -0.28 > 6 (EBITDA TTM -10.9m / Interest Expense TTM 38.3m) |
| A: 0.10 (Total Current Assets 48.0m - Total Current Liabilities 33.0m) / Total Assets 154.5m |
| B: -0.90 (Retained Earnings -139.7m / Total Assets 154.5m) |
| C: -0.08 (EBIT TTM -10.9m / Avg Total Assets 143.5m) |
| D: 2.67 (Book Value of Equity 88.1m / Total Liabilities 33.1m) |
| Altman-Z'' = -0.02 = B |
As of May 26, 2026, the stock is trading at USD 4.07 with a total of 3,053,000 shares traded.
Over the past week, the price has changed by -1.21%,
over one month by -5.13%,
over three months by -6.86% and
over the past year by +203.73%.
Trilogy Metals has received a consensus analysts rating of 3.50. Therefore, it is recommended to hold TMQ.
- StrongBuy: 0
- Buy: 3
- Hold: 3
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 7.2 | 76.4% |
P/B = 5.7807
Revenue TTM = 0.0 USD
EBIT TTM = -10.9m USD
EBITDA TTM = -10.9m USD
Long Term Debt = 60.0k USD (estimated: total debt 103k - short term 43.0k)
Short Term Debt = 43.0k USD (from shortTermDebt, last quarter)
Debt = 103k USD (from shortLongTermDebtTotal, last quarter) (leases 103k already included)
Net Debt = -47.7m USD (calculated: Debt 103k - CCE 47.8m)
Enterprise Value = 654.6m USD (702.3m + Debt 103k - CCE 47.8m)
Interest Coverage Ratio = -0.28 (Ebit TTM -10.9m / Interest Expense TTM 38.3m)
EV/FCF = -124.9x (Enterprise Value 654.6m / FCF TTM -5.24m)
FCF Yield = -0.80% (FCF TTM -5.24m / Enterprise Value 654.6m)
FCF Margin = unknown (Revenue TTM is 0 or missing)
Net Margin = unknown
Gross Margin = unknown ((Revenue TTM 0.0 - Cost of Revenue TTM 0.0) / Revenue TTM)
Tobins Q-Ratio = 4.24 (Enterprise Value 654.6m / Total Assets 154.5m)
Interest Expense / Debt = 37.2k% (Interest Expense 38.3m / Debt 103k)
Taxrate = 21.0% (US default 21%)
NOPAT = -8.59m (EBIT -10.9m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 1.46 (Total Current Assets 48.0m / Total Current Liabilities 33.0m)
Debt / Equity = 0.00 (Debt 103k / totalStockholderEquity, last quarter 121.5m)
Debt / EBITDA = 4.38 (negative EBITDA) (Net Debt -47.7m / EBITDA -10.9m)
Debt / FCF = 9.10 (negative FCF - burning cash) (Net Debt -47.7m / FCF TTM -5.24m)
Total Stockholder Equity = 126.1m (last 4 quarters mean from totalStockholderEquity)
RoA = -31.84% (Net Income -45.7m / Total Assets 154.5m)
RoE = -17.19% (Net Income TTM -45.7m / Total Stockholder Equity 265.8m)
RoCE = -4.09% (EBIT -10.9m / Capital Employed (Equity 265.8m + L.T.Debt 60.0k))
RoIC = -9.28% (negative operating profit) (NOPAT -8.59m / Invested Capital 92.6m)
WACC = 10.36% (E(702.3m)/V(702.4m) * Re(10.36%) + (debt cost/tax rate unavailable))
Discount Rate = 10.36% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 93.21 | Cagr: 5.34%
[DCF] Fair Price = unknown (Cash Flow -5.24m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.58 | # QB: 0
Revenue Correlation: N/A | Revenue CAGR: N/A | SUE: 0.0 | # QB: 0
EPS current Quarter (2026-05-31): EPS=-0.03 | Chg30d=N/A | Revisions=N/A | Analysts=1
EPS next Quarter (2026-08-31): EPS=-0.04 | Chg30d=-2.44% | Revisions=N/A | Analysts=1
EPS current Year (2026-11-30): EPS=-0.15 | Chg30d=-24.39% | Revisions=-20% | GrowthEPS=-60.1% | GrowthRev=+0.0%
EPS next Year (2027-11-30): EPS=-0.11 | Chg30d=-0.91% | Revisions=+20% | GrowthEPS=+27.5% | GrowthRev=+0.0%