Trilogy Metals (TMQ) AI Stock Analysis

• Market Cap: C$925.13M
• Dividend Yield: N/A
• Average Volume (3M): 640.45K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.10
• Revenue Growth: N/A
• EPS Growth: 7.70%
• Country: CA
• Employees: 5
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): -0.06
• Shares Outstanding: 175,545,640
• 10 Day Avg. Volume: 412,486
• 30 Day Avg. Volume: 640,447
• PEG Ratio: -0.05
• Price to Book (P/B): 5.92
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -225.28
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: C$8.03
• Price Target Upside: 50.38% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): -0.08
• Revenue Forecast (FY): N/A

• Rating: 43 Neutral
• Price Target: C$5.00 ▼(-6.37% Downside)
• Action: Reiterated Date: 04/05/26
• Date: Action: Reiterated 04/05/26

The score is primarily held down by pre-revenue fundamentals with sizable losses and negative operating/free cash flow, implying continued financing risk despite some improvement in cash burn. The balance sheet is a key stabilizer due to minimal debt and a sizeable equity base, while technical signals are neutral-to-bearish and valuation is constrained by negative earnings and no dividend.

Positive Factors

Balance-sheet strength

Very low leverage and a sizeable equity base give Trilogy structural financial flexibility while it develops projects. With total assets stable in the mid-$150M range, the balance sheet limits downside from project delays and reduces immediate refinancing pressure during multi-year permitting and study phases.

Negative Factors

Pre-revenue operations

The company generates no mining revenue and reported large TTM losses, which erode equity and require continual external funding. Over a multi-quarter horizon, persistent negative earnings reduce internal funding capacity and increase dependence on capital markets or partners to sustain exploration and development activities.

Trilogy Metals Business Overview & Revenue Model

Company Description

Trilogy Metals Inc., a base metals exploration company, explores for and develops mineral properties in the United States. It principally holds interests in the Upper Kobuk mineral projects that include the Arctic, which contains polymetallic volc...

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Trilogy Metals Inc., a base metals exploration company, explores for and develops mineral properties in the United States. It principally holds interests in the Upper Kobuk mineral projects that include the Arctic, which contains polymetallic volc...

How the Company Makes Money

Trilogy Metals does not operate producing mines and therefore does not generate recurring revenue from mineral production or product sales. Its economic model is primarily tied to (1) advancing its mineral projects (e.g., exploration drilling, tec...

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Trilogy Metals does not operate producing mines and therefore does not generate recurring revenue from mineral production or product sales. Its economic model is primarily tied to (1) advancing its mineral projects (e.g., exploration drilling, tec...

Trilogy Metals Financial Statement Overview

Breakdown	TTM	Nov 2025	Nov 2024	Nov 2023	Nov 2022	Nov 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	0.00	0.00	0.00	0.00	0.00	0.00
EBITDA	-11.46M	―	-6.62M	-7.08M	-6.74M	-7.96M
Net Income	-45.63M	-42.36M	-8.59M	-14.95M	-24.26M	-21.68M
Balance Sheet
Total Assets	154.54M	156.96M	133.70M	138.02M	146.00M	167.31M
Cash, Cash Equivalents and Short-Term Investments	47.78M	51.50M	25.83M	2.85M	2.89M	6.31M
Total Debt	103.00K	180.60K	147.00K	33.00K	222.00K	414.00K
Total Liabilities	33.06M	33.11M	903.00K	465.00K	567.00K	1.27M
Stockholders Equity	121.48M	123.85M	132.79M	137.56M	145.43M	166.04M
Cash Flow
Free Cash Flow	-5.28M	-3.26M	-1.83M	-3.09M	-3.94M	-5.24M
Operating Cash Flow	-5.28M	-3.26M	-1.83M	-3.09M	-3.94M	-5.12M
Investing Cash Flow	-3.50M	-1.00M	25.00M	0.00	142.00K	-119.00K
Financing Cash Flow	31.17M	30.09M	74.00K	3.12M	54.00K	416.00K

Trilogy Metals Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 5.34
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:TMQ, the sentiment is Neutral. The current price of 5.34 is above the 20-day moving average (MA) of 5.05, below the 50-day MA of 5.90, and above the 200-day MA of 4.94, indicating a neutral trend. The MACD of -0.20 indicates Negative momentum. The RSI at 51.88 is Neutral, neither overbought nor oversold. The STOCH value of 80.62 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:TMQ.

Trilogy Metals Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
PMET	48 Neutral	C$806.12M	-78.87	-1.85%	―	―	-7040.00%
FVL	46 Neutral	C$681.69M	-84.48	-0.60%	―	―	41.18%
WRN	44 Neutral	C$794.21M	-236.09	-1.92%	―	―	41.98%
OCO	44 Neutral	C$123.86M	-28.84	-3.65%	―	―	29.51%
TMQ	43 Neutral	C$925.13M	-26.66	-32.78%	―	―	7.70%
UCU	41 Neutral	C$638.99M	-11.88	-74.52%	―	―	-58.77%