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Trilogy Metals (TMQ) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Trilogy Metals
NYSE American•Basic Materials•Other Industrial Metals & Mining
$3.30+0.03(0.01%)Market closed
Market Cap
$559.27M
P/B
4.8x

Trilogy Metals Inc. engages in the exploration and development of mineral properties in the United States. It primarily explores copper, cobalt, lead, zinc, gold, and silver properties. The company principally holds interests in the Upper Kobuk mineral projects that include the Arctic, which contains polymetallic volcanogenic massive sulfide deposits; and Bornite that contains carbonate-hosted copper-cobalt deposits covering an area of approximately 448,217 acres located in the Ambler mining district in Northwest Alaska. The company was formerly known as NovaCopper Inc. and changed its name to Trilogy Metals Inc. in September 2016. Trilogy Metals Inc. was founded in 2004 and is headquartered in Vancouver, Canada.

D

How this company scores

WeakMetricSide Score: 34/100

Strongest: Balance Sheet & Red Flags (15/25); weakest: Cash & Earnings Quality (3/25).

Profitability10/25
Growth6/25
Balance Sheet & Red Flags15/25
Cash & Earnings Quality3/25
Strengths
Long cash runwayInterest easily coveredNet cash position

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/B · 4.8x5y range 0.5x – 6.3x
P/B 4.8x · above its 20-quarter median

Currently above its 20-quarter median.

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Earnings Quality

Red Flag

Free cash flow has been negative in 7 of the last 8 quarters — earnings are not translating to cash.

Cash Burn

Red Flag

The last 6 consecutive quarters had negative FCF — the company is burning cash and may need external funding.

Price & Volume
Market Cap $559.27M

Metrics at a Glance

as of May 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue
$0
Q. Revenue
$0
TTM EBITDA
$0
100%
TTM Op. Income
$0
Q. Op. Income
$0
TTM Net Income
$-49.85M
6Q
Q. Net Income
$-6.34M
2Q
EPS
$-0.04
300%
Shares Out.
$172.61M
7Q
$0 in TTM revenue was flat at zero YoY, reaching $0 last quarter. TTM EBITDA of $0 and TTM operating income of $0 show growth is flowing through to the bottom line. However, net income is negative at $49.85M — growth is not yet reaching the bottom line.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin
N/A
Op. Margin
0.0%
Net Margin
-634500000.0%
2Q
Op. margin of 0.0% is flat YoY — stable. Net margin at -634500000.0%

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio
N/A
P/S Ratio
N/A
P/B Ratio
4.8x
221%
P/S of 0.0x and P/B of 4.8x.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets
$151.19M
2Q
Cash
$38.84M
2Q
Long-Term Debt
N/A
Book Value
$115.92M
7Q
D/E Ratio
N/A
Debt/EBITDA
N/A

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow
$-1.04M
53%
TTM Free Cash Flow
$-5.60M
6Q
FCF Margin
N/A
FCF / Net Income
0.1
54%
TTM FCF of $-5.60M on $-1.04M in operating cash flow. The FCF / Net Income ratio of 0.1x means cash covers only part of net income — earnings quality needs attention. Across the last 8 quarters, free cash flow has fallen for 6 consecutive quarters — a weakening trend.

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Share Dilution

Red Flag

Shares outstanding increased 7.5% — significant dilution, likely from stock compensation or capital raises.