Trilogy Metals
Developer of Alaska's Arctic and Bornite copper projects.
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Profile
Develops the Arctic and Bornite mineral projects in northwestern Alaska through its Ambler Metals joint venture, with prospective revenue from copper, lead, and zinc concentrates. Remains pre-production, with significant project decisions requiring South32 approval.
Oversees an equal equity interest in Ambler Metals, the joint venture that owns Alaska's Upper Kobuk Mineral Projects: the Arctic polymetallic deposit, the Bornite copper deposit, and district exploration targets in the southern Brooks Range.
Supports project advancement through a small Vancouver team, while Ambler Metals conducts work in Alaska and elsewhere in the United States. Arctic is being permitted as an open-pit mine and mill designed to produce copper, lead, and zinc concentrates, with gold and silver recoveries; Bornite remains at preliminary-assessment stage.
Has no mining production, operating revenue, or principal market. Economic exposure depends on project permitting, financing, access-road and infrastructure development, and decisions jointly approved with South32; NANA land rights and subsistence governance shape the development framework.
Company facts
Key statistics
Year to date −21.1% · Average volume (30d) 1.2M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating |
|---|---|---|---|
| Aug 5, 2026 | UBS | Downgrade | Hold |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 8, 2026Q2 FY26 | −$0.01 | −$0.03 | −200.0% | — | — | — | +3.50% |
| Apr 2, 2026Q1 FY26 | −$0.01 | −$0.03 | −200.0% | — | — | — | +1.59% |
| Feb 17, 2026Q4 FY25 | −$0.11 | −$0.11 | 0.0% | — | — | — | +2.17% |
| Sep 30, 2025Q3 FY25 | −$0.01 | −$0.01 | 0.0% | — | — | — | +8.57% |
Financial highlights
| 11 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | |
| Gross profit | $0 | $0 | $0 | $0 | $0 | $0 | |
| Operating income | −$3.2M | −$1.7M | −$1.2M | −$3.4M | −$4.7M | −$2.1M | |
| Net income | −$3.6M | −$2.2M | −$1.7M | −$34.7M | −$7.1M | −$6.3M | |
| Diluted EPS | −$0.02 | −$0.01 | −$0.01 | −$0.21 | −$0.04 | −$0.04 | |
| Gross margin | — | — | — | — | — | — | |
| Operating margin | — | — | — | — | — | — |
Fiscal years (4-quarter sums)FY24 $0 · FY25 $0
Balance sheet, May 31, 2026Cash & short-term investments $38.8M · Total debt $92.0K · Total assets $151.2M · Shareholders' equity $115.9M
Dividends
No dividends on record.
Ownership
Shares outstanding 172.75M · Float 107.95M · 62.5% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Electrum Group LLC | 31.60M | 18.30% | 13F | Aug 10, 2026 |
| Toroso Investments, LLC | 8.40M | 4.86% | 13F | Aug 13, 2026 |
| Tony Giardini | 8.17M | 5.00% | 13D | Oct 27, 2025 |
| TSP Capital Management Group, LLC | 6.78M | 3.92% | 13F | Jul 31, 2026 |
| Old West Investment Management, LLC | 6.09M | 3.53% | 13F | Aug 6, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
View detailsPeers
- Hudbay Minerals
Permitted Arizona copper project with substantially greater funding.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Trilogy Metals | $3.74 | +3.31% | $625.3M | — | — | — | — |
| Hudbay Minerals | $29.00 | −1.01% | $13.01B | 17.3 | 16.2 | 5.2 | +17.7% |
| Median | 17.3 | 16.2 | 5.2 | +17.7% |