Trilogy Metals Inc. (TMQ)
It posted a net loss of $47.9M. At August 31, 2026 it held $31.2M in cash. Its latest periodic report to the SEC is the quarterly report (10-Q) filed on October 2, 2026.
Key facts about Trilogy Metals Inc.
- Net worth
- Trilogy Metals Inc. has a market value (market cap) of $371.4M at the latest share price, and shareholders' equity of $116.8M on its balance sheet at August 31, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
- Cash flow
- In fiscal 2025 operations used $3.2M of cash.
- Latest report
- The latest periodic report (quarterly report, 10-Q) was filed with the SEC on October 2, 2026 and covers the period to August 31, 2026. Open on SEC EDGAR
- Next earnings report
- Trilogy Metals Inc.'s next report is expected around February 16, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
What Trilogy Metals Inc. does
Trilogy Metals Inc. is registered with the SEC under industry code SIC 1040 (Gold and Silver Ores). Its shares trade on NYSE under the ticker TMQ.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | n/a | -$42.2M | -$0.26 | n/a |
| 2024 | n/a | -$8.6M | -$0.05 | n/a |
| 2023 | n/a | -$15M | -$0.10 | n/a |
| 2022 | n/a | -$24.3M | -$0.17 | n/a |
| 2021 | n/a | -$21.7M | -$0.15 | n/a |
| 2020 | n/a | $161.8M | $1.12 | n/a |
Earnings: every quarter and the next report date
Full financial statements: income, balance sheet and cash flow
Latest SEC filings
What Trilogy Metals Inc. has filed recently, newest first. Each links to the original document on SEC EDGAR.
- October 21, 2026
- October 2, 2026Quarterly results8-KTrilogy Metals reported net income of $0.2 million for the third quarter of fiscal 2026 and completed a strategic equity investment.
- October 2, 2026Quarterly report10-Q · period to August 31, 2026Trilogy Metals reported quarterly net income of $0.2 million and closed a strategic equity investment with the U.S. Department of War for gross proceeds of approximately $17.8 million.Diluted EPS $0.00 versus -$0.01.
- September 21, 2026
- September 14, 2026
- September 10, 2026
- September 1, 2026Passive stake changed SCHEDULE 13G/A
- August 31, 2026
- August 4, 2026
- July 16, 2026
Insider trades
What the people running Trilogy Metals Inc. did with its shares, from the Form 4 filings they must send the SEC within two business days.
Insiders sold $17.8M worth of shares in the last 90 days and bought none on the open market.
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| August 28, 2026 | South32 Ltd10% owner | Soldindirect | 8,215,570 | $17.8M |
| May 8, 2026 | Hensley William L. IggiagrukDirector | Exercised options | 50,000 | $28.5K |
| May 8, 2026 | Hensley William L. IggiagrukDirector | Sold | 50,000 | $222K |
| April 23, 2026 | Walters Diana JDirector | Exercised options | 50,000 | $80.5K |
| February 26, 2026 | Hensley William L. IggiagrukDirector | Sold | 25,107 | $110.5K |
| December 26, 2025 | Kaplan Thomas Scott10% owner | Gave as a gift | 540,406 | - |
| December 26, 2025 | Kaplan Thomas Scott10% owner | Gave as a giftindirect | 416,666 | - |
| December 11, 2025 | Giardini TonyPresident & CEO, Director | Exercised options | 60,000 | - |
Who owns TMQ
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| Electrum Strategic Opportunities Fund L.P.13D, may seek influence with 4 related filers | 18.5% | December 29, 2025 |
| South32 Limited13G, passive with 1 related filers | 6.01% | September 1, 2026 |
| Tony Giardini13D, may seek influence | 5% | October 27, 2025 |
Largest institutional holders
Positions that investment managers reported on Form 13F for the quarter ended June 30, 2026, largest first, with the change on the quarter ended March 31, 2026. Managers file 13F up to 45 days after a quarter ends. 147 managers reported a position.
| Holder | Shares | Change on quarter |
|---|---|---|
| Electrum Group LLC | 31,604,741 | 0 |
| Tidal Investments LLC | 8,396,279 | -1,536,918 |
| TSP Capital Management Group, LLC | 6,777,100 | new |
| Old West Investment Management, LLC | 6,092,657 | +1,390,945 |
| Goehring & Rozencwajg Associates, LLC | 1,775,530 | +47,377 |
| Alps Advisors Inc | 1,473,828 | -386,915 |
| Marshall Wace, Llp | 1,356,512 | -272,375 |
| Morgan Stanley | 936,338 | +477,063 |
| Envestnet Asset Management Inc | 908,869 | -64,985 |
| Point72 Asset Management, L.P. | 877,834 | +534,793 |
| Citadel Advisors LLC | 796,695 | +488,004 |
| BlackRock, Inc. | 489,510 | +82,177 |
| Toronto Dominion Bank | 410,036 | +14,567 |
| Goldman Sachs Group Inc | 403,701 | -55,579 |
| Moore Capital Management, LP | 391,599 | new |
| Bank of Montreal | 328,040 | +43,829 |
| Private Advisor Group, LLC | 313,800 | +110,000 |
| State Street Corp | 308,258 | +74,969 |
| UBS Group AG | 285,288 | +99,539 |
| Manufacturers Life Insurance Company, The | 271,057 | -3,385 |
Insiders
6 insiders reported holding 22,641,197 shares in total, about $48.7M at the last price.
| Holder | Shares |
|---|---|
| South32 Ltd10% owner | 10,379,74110,379,741 held indirectly |
| Giardini TonyPresident & CEO, Director | 8,758,728 |
| Sanders ElaineVP & CFO | 3,347,895 |
| Walters Diana JDirector | 101,302 |
| Lang Gregory A.Director | 35,000 |
| Hensley William L. IggiagrukDirector | 18,531 |
Questions about TMQ
What does Trilogy Metals Inc. do?
Trilogy Metals Inc. is a company in the Basic materials sector, listed on NYSE as TMQ. Its shares trade on NYSE under the ticker TMQ.
What is Trilogy Metals Inc.'s net worth?
Trilogy Metals Inc. has a market value (market cap) of $371.4M at the latest share price, and shareholders' equity of $116.8M on its balance sheet at August 31, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Is Trilogy Metals Inc. profitable?
No. Over the twelve months to August 31, 2026 it reported a net loss of $47.9M.
When did Trilogy Metals Inc. last report?
Its most recent periodic report is the quarterly report (10-Q) filed on October 2, 2026. It covers the period to August 31, 2026. Its newest filing of any kind is the investor disclosure from October 21, 2026.
When is Trilogy Metals Inc.'s next earnings report?
Trilogy Metals Inc.'s next report is expected around February 16, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
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Where the numbers come from
Financial figures are the values Trilogy Metals Inc. tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.