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Trilogy Metals
(TSX:TMQ)
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Rating:45Neutral
Price Target:
C$4.50
▼(-26.59% Downside)
Action:Reiterated
Date:07/12/26
The score is held down primarily by weak financial performance typical of a pre-revenue company—no revenue, large ongoing losses, and negative cash generation—despite a very low-debt balance sheet. Technicals also detract, with the stock trading below all key moving averages and negative momentum readings. Valuation provides limited support given the negative P/E and lack of dividend yield data.
Positive Factors
Conservative balance sheet / very low leverage
Extremely low debt reduces financial risk and interest burden, giving the company durable financial flexibility to fund exploration, permitting and studies without large fixed financing costs. This conservatism supports project continuity through multi‑month development cycles.
Negative Factors
Pre‑revenue company with widening losses
The lack of operating revenue and materially negative net results indicate the company remains pre‑commercial and consistently consumes capital. Over a multi‑month horizon this heightens reliance on external financing and increases dilution risk unless project advancement creates new financing options.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet / very low leverage
Extremely low debt reduces financial risk and interest burden, giving the company durable financial flexibility to fund exploration, permitting and studies without large fixed financing costs. This conservatism supports project continuity through multi‑month development cycles.
Read all positive factors
Trilogy Metals (TMQ) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$718.62M
Dividend YieldN/A
Average Volume (3M)640.45K
Price to Earnings (P/E)―
Beta (1Y)0.22
Revenue GrowthN/A
EPS Growth-431.79%
CountryCA
Employees5
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-0.30
Shares Outstanding172,745,640
10 Day Avg. Volume412,486
30 Day Avg. Volume640,447
Financial Highlights & Ratios
PEG Ratio-0.04
Price to Book (P/B)5.92
Price to Sales (P/S)0.00
P/FCF Ratio-225.28
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.09
Revenue Forecast (FY)N/A
Trilogy Metals Business Overview & Revenue Model
Company Description
Trilogy Metals Inc. is a company dedicated to the exploration and development of base metal mineral properties across the United States. Its core assets are the Upper Kobuk mineral projects, situated within the Ambler mining district of Northwest ...
How the Company Makes Money
Trilogy Metals does not generate recurring revenue from mineral production because its flagship projects are in the exploration/development stage; therefore, revenue from selling metals is null. The company’s economic model is to create value by d...
Trilogy Metals Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
72
Positive
Cash Flow
38
Negative
| 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 | -11.91M | ― | -6.62M | -7.08M | -6.74M | -7.96M |
| Net Income | -49.80M | -42.36M | -8.59M | -14.95M | -24.26M | -21.68M |
Balance Sheet | ||||||
| Total Assets | 150.69M | 156.96M | 133.70M | 138.02M | 146.00M | 167.31M |
| Cash, Cash Equivalents and Short-Term Investments | 38.71M | 51.50M | 25.83M | 2.85M | 2.89M | 6.31M |
| Total Debt | 91.69K | 180.60K | 147.00K | 33.00K | 222.00K | 414.00K |
| Total Liabilities | 35.27M | 33.11M | 903.00K | 465.00K | 567.00K | 1.27M |
| Stockholders Equity | 115.54M | 123.85M | 132.79M | 137.56M | 145.43M | 166.04M |
Cash Flow | ||||||
| Free Cash Flow | -5.65M | -3.26M | -1.83M | -3.09M | -3.94M | -5.24M |
| Operating Cash Flow | -5.65M | -3.26M | -1.83M | -3.09M | -3.94M | -5.12M |
| Investing Cash Flow | -11.50M | -1.00M | 25.00M | 0.00 | 142.00K | -119.00K |
| Financing Cash Flow | 31.21M | 30.09M | 74.00K | 3.12M | 54.00K | 416.00K |
Trilogy Metals Technical Analysis
Negative
6.13
Price Trends
5.42
Negative
5.46
Negative
6.06
Negative
Market Momentum
-0.30
Positive
30.67
Neutral
16.50
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:TMQ, the sentiment is Negative. The current price of 6.13 is above the 20-day moving average (MA) of 4.77, above the 50-day MA of 5.42, and above the 200-day MA of 6.06, indicating a bearish trend. The MACD of -0.30 indicates Positive momentum. The RSI at 30.67 is Neutral, neither overbought nor oversold. The STOCH value of 16.50 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:TMQ.
Trilogy Metals Risk Analysis
Trilogy Metals disclosed 30 risk factors in its most recent earnings report. Trilogy Metals reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Trilogy Metals Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
49 Neutral | C$825.59M | -69.59 | -1.85% | ― | ― | -43.37% | |
46 Neutral | C$519.93M | -50.08 | -5.11% | ― | ― | -455.88% | |
46 Neutral | C$492.53M | -10.22 | -65.12% | ― | ― | -87.05% | |
45 Neutral | C$718.62M | -9.83 | -36.23% | ― | ― | -431.79% | |
45 Neutral | C$658.85M | -120.16 | -2.34% | ― | ― | 20.78% | |
43 Neutral | C$115.71M | -15.71 | -6.82% | ― | ― | -44.87% |
* Basic Materials Sector Average
TSE:TMQ
Trilogy Metals
4.16
1.56
60.00%
TSE:WRN
Western Copper
2.97
1.28
75.74%
TSE:FVL
Freegold Ventures
0.92
-0.29
-23.97%
TSE:PMET
PMET Resources Inc
4.34
0.96
28.40%
TSE:OCO
Oroco Resource
0.36
0.08
26.32%
TSE:UCU
Ucore Rare Metals
4.22
2.55
152.69%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.