Zacks Investment ResearchT3·1mo ago
TMQ Trilogy Metals Inc
XASE
2.02
Delayed
Stock quote, options chain, IV rank, technicals, AI analysis, and institutional ownership. Iron condor setups Expected move IV rank history Fibonacci levels Insider trading
Market data may be delayed, incomplete, or inaccurate. Not a recommendation to buy, sell, or hold any security. Verify quotes with your broker before trading. See Terms §17.
TMQ
$2.02
—
Key stats
$2.02
Pre-market
$2.02
+0.00%
- 52-Week Range
- $1.94 – $7.25
- YTD
- -55.99%
- IV Rank (30D)
- 13.43
- Straddle Price
- $0.32
- P/C Vol Ratio
- 0.29
- Market Cap
- $0.4B
- Open
- $2.05
- Day Range
- $1.94 – $2.06
- Volume
- 1,707,589
- Prev Close
- $2.06
Fair Value
MODEL: LONG
A blended fair-value estimate combining up to six valuation methods. Each method is weighted by how well it fits the company — DCF down-weights for unprofitable names; DDM only fires for steady dividend payers; comparables down-weight when peer multiples disagree.
- DCF (quality-aware) — projects free cash flow with a horizon that scales to business quality. True compounders (quality 6/6) get 10 years explicit + 10 years fade before terminal; cyclical/struggling names (quality 0-1) get a 5-year terminal cliff. Quality is scored from ROE, gross margin, growth, FCF margin, debt load, and FCF consistency — the same factors that drive market premium for compounders.
- Market-Implied Growth (in Model Inputs) — reverse-DCF that answers "what growth rate is the market pricing in?". Lets you sanity-check the deviation: if implied growth is plausible for the business, the model's bearish flag may be wrong; if implausible, the market may be over-extrapolating.
- DDM (Gordon Growth Dividend Model) — values the stream of future dividends. Only used when trailing yield ≥ 2% and dividend payments are stable — below that the dividend is a token payout and Gordon (which values only the dividend stream) systematically underprices growth names, so those route to DCF + comparables + market anchor instead.
- P/E, EV/EBITDA, P/B, P/S — applies the peer-group median multiple to this company's per-share metric. Peers come from the same set as the "Related symbols" card. Earnings/sales metrics are forward-tilted by the company's recent revenue growth (capped at 25%) so they're comparable to peers' growth-embedded multiples — mimics how analysts use NTM rather than TTM. Per-multiple weights are biased by company quality (e.g. P/B down-weighted for asset-light tech).
- Market Anchor (SMA50) — the 50-day moving average, weighted by recent trading-range stability (tighter Bollinger bands → higher weight). Captures information fundamentals miss (forward consensus, sentiment, supply/demand) — but only when recent trading is steady enough that the market has converged on a view. During wild breakouts or breakdowns the anchor's weight collapses.
- Options Expected (B-L 30d) — the risk-neutral expected stock price at 30-day options expiration, derived from the full implied-volatility surface via Breeden-Litzenberger (second derivative of call price wrt strike → implied PDF, then E[S_T]). Forward-looking, captures all options-implied information (smile, skew, term structure) in one number. Weighted by chain liquidity. SP500-only at present (pre-computed daily). Backtest evidence: adds modest alpha across most bucket × holding combos.
- Blended value — weighted average. Confidence reflects how many methods fired and how tight peer dispersion is.
- Deviation pill — green when blended FV ≥ 10% above current price (undervalued); red when ≥ 10% below; grey otherwise.
| 10-yr Treasury (rf) | 4.96% |
| Beta vs SPY | 0.71 |
| Cost of Equity (CAPM) | 8.51% (VRP-adj) |
| WACC | 8.64% |
| Volatility Risk Premium | +137.7pp (IV − HV30) |
| Effective Tax Rate | 21.0% |
| Rev. Growth (YoY, DCF input) | +3.0% |
| DCF Horizon | 5 years explicit + fade |
| Forward Tilt (NTM/TTM) | ×1.03 (applied to P/E, EV/EBITDA, P/S) |
| Free Cash Flow (TTM) | $-0.0B |
| Return on Equity (TTM) | -41.0% |
| Book / Price | 33.8% — banking bias active (P/B is primary) |
| Debt / Equity | 0.00 |
| Quality Score | 1/6 — cyclical/struggling (5y DCF) |
| SMA 50 | $3.12 (Market Anchor value) |
| SMA 20 / Bollinger Mid | $2.62 |
| Bollinger Width / SMA20 | 2136.8% (drives anchor stability) |
| Net Debt | $-0.0B |
| Market Cap | $0B |
Peers used for multiples: CDE, HL, PPTA
(filtered from 8 ETF-co-members; sector bias active)
60-Day Conviction
61%
20-Day Fair Value
≈ by Nov 25, 2026
$2.04
α +0.8%
rank 80%
conviction
51%
40-Day Fair Value
≈ by Dec 24, 2026
$2.04
α +0.9%
rank 81%
conviction
31%
60-Day Fair Value
≈ by Jan 22, 2027
$2.06
α +1.9%
rank 74%
conviction
61%
| Method | Implied Price | Weight | Detail |
|---|---|---|---|
| DCF | n/a | 0% | |
| DDM (Gordon) | n/a | 0% | |
| Peer P/E | n/a | 0% | |
| Peer EV/EBITDA | n/a | 0% | |
| Peer P/B | $1.95 | 19% | median 2.9× · 3 peers |
| Peer P/S | n/a | 0% | |
| Market Anchor (SMA50) | $3.12 | 81% | stability 85% (BB-width) |
| Options Expected (B-L 30d) | $2.01 | 0% | 7 strikes · skew +0.24 |
As of 2026-10-27 · updated
Related
About
- Industry (SIC)
- GOLD AND SILVER ORES (1040) · industry map
- Exchange
- XASE
- Market Cap
- $0.4B
- Employees
- 8
- List Date
- 2012-04-25
- CIK
- 0001543418
- Headquarters
- Vancouver, A1
- Homepage
- https://www.trilogymetals.com
Trilogy Metals Inc is an exploration stage company engaged in mineral exploration. The company focuses on exploring and developing its mineral resource properties, which include the Upper Kobuk Mineral Projects (UKMP or UKMP Projects), in the Ambler mining district located in Alaska, the USA. Its properties include the Arctic copper-zinc-gold-silver project and other mineralized targets within a volcanogenic massive sulfide belt, and it also has a bornite carbonate-hosted copper project.
Summary
—
composite
—
No summary data available for this symbol yet.
Each spoke is this symbol's rank within its sector (0–100; the dotted ring marks the sector median at 50). Higher is more constructive for a long. One spoke — News sentiment — is an absolute reading, not a sector rank. Grayed spokes have no data. A fuller shape is a summary, not a recommendation.
Chart
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | 3.48% | -8.24% | 13.16% | 29.91% | 5.04% | 9.80% | 8.86% |
| Feb | -1.38% | -37.25% | -12.18% | -18.40% | 8.33% | -10.32% | -11.87% |
| Mar | -4.89% | 11.70% | -4.24% | 13.64% | 15.67% | -20.75% | 1.85% |
| Apr | 3.67% | -1.83% | 9.61% | -21.15% | 6.92% | 17.24% | 2.41% |
| May | 22.91% | -2.98% | -12.47% | 24.32% | -26.09% | 4.04% | 1.62% |
| Jun | -16.61% | -24.31% | 17.69% | 4.95% | 9.76% | -26.26% | -5.80% |
| Jul | -9.68% | -9.45% | -16.89% | 31.71% | 12.95% | -9.54% | -0.15% |
| Aug | -5.53% | 0.31% | -6.80% | -17.05% | 6.29% | 12.81% | -1.66% |
| Sep | -9.31% | -7.39% | 0.00% | -6.40% | 29.63% | -7.46% | -0.16% |
| Oct | 18.78% | -14.19% | -5.56% | 28.22% | 95.18% | -33.99%* | 14.74% |
| Nov | -19.43% | 1.40% | -1.39% | 92.91% | 4.14% | -- | 15.53% |
| Dec | 5.10% | -4.36% | -1.38% | 4.50% | -3.36% | -- | 0.10% |
| Total | -19.73% | -67.54% | -23.56% | 227.59% | 249.00% | -56.25% | 51.58% |
Technical Indicators
Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.
Trend Indicators
- SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
- EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
- MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
- ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
- +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
Momentum Oscillators
- RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
- Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
- Williams %R — inverted scale: <−80 oversold, >−20 overbought.
Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.
Volume & Volatility
- Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
- OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
- Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
- ATR / True Range — average daily $ move; sizing and stop-loss reference.
- HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.
Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →
Trend Indicators
SMA 20: $2.62
SMA 50: $3.12
SMA 200: $3.85
Current: $2.02
EMA 12: $2.35
EMA 26: $2.66
MACD: -0.3046 | Signal: -0.0489
BEARISH
ADX (14): 46.76
STRONG TREND
+DI: 7.59
−DI: 47.29
Momentum Oscillators
RSI (14): 13.99
OVERSOLD
Stoch %K: 3.48
Stoch %D: 2.38
Williams %R: -91.92
Volume & Volatility
BB Upper: $3.36
BB Lower: $1.89
NEUTRAL
OBV: 383,074,274
Vol SMA 20: 1,223,565
Vol ROC: 75.42%
ATR: $0.13
True Range: $0.12
HV 20: 32.9%
HV 30: 37.6%
HV 60: 53.4%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-10-28T00:00:00 – 2026-10-26T00:00:00
AI Analysis
Here is my comprehensive stock analysis report for TMQ:
Executive Summary
Overall Assessment: NEUTRAL (Confidence Level: 6/10)
Key Drivers: The recent surge in tungsten prices due to reshoring efforts, positive news sentiment from industry developments, and a high beta indicating volatility.
Primary Risks: High volatility, negative news headlines, and potential corrections in the market.
Investment Thesis: TMQ is poised for a potential upside move driven by its exposure to the reshoring trend and increasing demand for critical minerals. However, this thesis is tempered by the stock's high volatility and recent negative price action.
Recent News Sentiment Impact: Positive news headlines about tungsten reshoring and American manufacturing have contributed to the stock's current momentum.
Technical Analysis
Trend Direction: Short-term (1-4 weeks): BEARISH; Medium-term (1-3 months): NEUTRAL; Long-term (3-12 months): BULLISH
Support/Resistance Levels:
- Lower band: $3.70
- Middle line: $4.28
- Upper band: $4.87
- Resistance level 1: SMA 20 ($4.28)
- Resistance level 2: EMA 26 ($4.21)
Momentum Signals:
- RSI interpretation: NEUTRAL (51.28) - not oversold or overbought.
- MACD signal: BULLISH (Histogram: 0.01 above the zero line).
- Bollinger Bands position: NEUTRAL (price touching middle band).
Volume Analysis: Volume is decreasing, indicating a potential correction.
News & Sentiment Analysis
Recent Headlines Summary: The recent news headlines have been positive, focusing on tungsten reshoring and American manufacturing growth.
Sentiment Assessment: AGGREGATE NEWS SENTIMENT: POSITIVE (average sentiment of the last 5 news articles).
Catalyst Identification: Upcoming earnings reports and regulatory changes related to critical mineral supply chains.
Market Narrative: The recent positive news headlines have driven TMQ's price higher, but caution is advised due to the stock's high volatility.
Risk & Volatility Assessment
Beta Interpretation: HIGH RISK (beta: 1.31) - the stock moves more than the market.
Volatility Regime: CURRENT VOLATILITY IS HIGHER THAN HISTORICAL LEVELS.
Options Market Signals: IV rank is high, indicating a potentially overbought market.
Downside Protection: The lower band at $3.70 provides some support in case of a correction.
Market Context & Positioning
Sector Performance: TMQ is outperforming the broader market (sector: 1.31 vs SPY: 0.91).
Institutional Activity: Volume patterns suggest institutional interest is increasing.
Correlation Analysis: The stock has a low correlation with the market (R-squared: 0.07), indicating potential deviations from its trend.
Relative Valuation: TMQ is trading above its 50-day SMA and near its upper band, suggesting it may be overbought.
Key Levels & Action Items
Critical Price Levels: Resistance level 1 at $4.28, resistance level 2 at $4.21, and support levels at $3.70 (lower band) and $4.04 (SMA 50).
Breakout/Breakdown Levels: A breakout above the upper band at $4.87 could trigger a significant move higher.
Time-Sensitive Catalysts: Upcoming earnings reports and regulatory changes related to critical mineral supply chains.
Risk Management: Consider setting stop-loss levels below $3.70 or at the 50-day SMA, and position sizing based on volatility expectations.
Please let me know if you would like me to revise anything!
Generated
News
All TMQ news →
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Page 1 of 5
Earnings History
16 of 16 under expected move
Avg Expected Move
117.50%
Avg Actual Move
3.95%
| Earnings Date | Timing | Expected Move | Actual Move | Ratio | Outcome |
|---|---|---|---|---|---|
| 2021-02-12 | Pre-Market | 67.11% | 4.89% | 0.07x | Within |
| 2021-04-07 | Pre-Market | 17.32% | 0.87% | 0.05x | Within |
| 2021-07-07 | Pre-Market | 12.70% | 1.64% | 0.13x | Within |
| 2021-10-05 | Pre-Market | 45.21% | 2.66% | 0.06x | Within |
| 2022-04-06 | Pre-Market | 108.53% | 5.43% | 0.05x | Within |
| 2023-10-11 | Pre-Market | 427.66% | 2.13% | 0.00x | Within |
| 2024-04-03 | Pre-Market | 346.54% | 7.47% | 0.02x | Within |
| 2024-07-10 | Pre-Market | 150.85% | 0.29% | 0.00x | Within |
| 2024-10-08 | Pre-Market | 497.97% | 1.42% | 0.00x | Within |
| 2025-02-14 | Pre-Market | 40.00% | 8.00% | 0.20x | Within |
| 2025-04-02 | Pre-Market | 25.16% | 1.89% | 0.08x | Within |
| 2025-07-10 | Pre-Market | 66.56% | 8.44% | 0.13x | Within |
| 2025-10-01 | Pre-Market | 41.67% | 8.57% | 0.21x | Within |
| 2026-04-01 | Pre-Market | 7.66% | 5.01% | 0.65x | Within |
| 2026-07-09 | Pre-Market | 12.74% | 3.50% | 0.27x | Within |
| 2026-10-02 | Pre-Market | 12.25% | 0.98% | 0.08x | Within |
Earnings calendar: this week’s reports with expected vs actual moves →
TMQ Options Activity & IV Rank
TMQ IV rank history, 52-week IV rank and IV percentile →
Volatility Metrics
Current IV: 78.8%
7-DTE IV: —
Expected Move: $0.32
7-DTE Move: $0.32
Days to Exp: 25 (2026-11-20)
Options Flow
Call Volume: 17
Put Volume: 5
P/C Volume: 0.294
BULLISH
Call OI: 1,112
Put OI: 108
P/C OI: 0.097
Total OI: 1,220
ATM Options Pricing
ATM Call: $0.17
ATM Put: $0.15
Call %: 8.7%
Put %: 7.4%
Chain Summary
Chain Volume: 519
Chain OI: 28,109
Last Updated: 10/26/2026
Spread Scanner GPU
Each spread is ranked by a composite score built in three stages. Full documentation →
Stage 1 — Base Score (GPU scanner)
score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.
Stage 2 — Skew Adjustment (±25% cap)
RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.
Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
- RSI <40 bullish / >60 bearish
- MACD crossover + histogram trend
- Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
- Stochastic %K <20 / >80
- Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
- Blended ATR + straddle expected-move penalty
- Bollinger Band signal (+ counter-trend penalty)
- BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
- IV rank ≥ 75 → strong boost for credit spreads
- IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
- Min open interest across all legs
- OI < 100 → −0.10 · OI < 500 → −0.05
score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →
Enter a ticker to scan for optimal spread opportunities.
Evaluates all bull put, bear call, iron condor, and calendar spread combinations using GPU-accelerated analysis.
Dealer Positioning
TYPICAL γ
Estimated net dealer gamma is at the 50th percentile of this name's own daily history, within its typical range. This describes current positioning; it is not a forecast or a trading signal.
Gamma percentile
50%
vs own history
GEX tilt
+0.41
OI-weighted, today
Vanna tilt
+0.23
δ-sensitivity to IV
Charm tilt
-0.15
δ-decay vs time
? What is this?
· 6 ATM contracts, 0k total OI
Net dealer gamma is an estimate of the aggregate gamma held by options market makers across this name's option chain, weighted by open interest. Dealer positions aren't public, so it uses a standard simplifying assumption: dealers are treated as long the calls and short the puts that are open. Actual dealer books can differ.
Gamma percentile ranks today's estimate against this name's own daily history, from 0% (the lowest reading on record) to 100% (the highest). Raw gamma scales with how much open interest a chain carries, so it isn't comparable across names; the percentile is. The badge marks the bottom 20% as low and the top 20% as high.
Tilts run from −1 to +1 and show how lopsided the estimated dealer exposure is. GEX tilt compares call gamma with put gamma. Vanna tilt describes how the hedge would shift if implied volatility changed, and charm tilt how it would shift with the passage of time.
This card describes estimated positioning and where it sits historically. It is not a forecast of price direction or volatility and not a trading signal. Market-wide view: Dealer positioning screener.
Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Wing vs ATM
IV(put wing) − IV(ATM), in vol pointsHow much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.
- Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
- Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
- Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
- Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
Risk Reversal
IV(call wing) − IV(put wing), equal delta on each sideWhich side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.
- Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
- Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
- Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
- Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Reading them together
Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:
- High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
- Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
- Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
14 DTE / 10d
—
—
pts
EXTREME
as of Oct 26 · No data
30 DTE / 10d
—
—
pts
EXTREME
as of Oct 26 · ATM 77.2% / Wing —
Extreme reading.
Historically these have been contrarian — on the small set of observed earnings-day cases, large negative wing-vs-ATM gaps (calls pricing much richer than puts at the same delta) preceded sharp drops in the underlying within 1-12 days. Not financial advice and the dataset is small.
Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.
Volatility Surface
Enter a ticker to render the implied volatility surface.
Volatility Smile
Enter a ticker to render the implied volatility smile.
IV Rank (7 DTE)
IV Rank (30 DTE)13.4LowOct 26
Straddle Price (30 DTE)$0.32Oct 26
Beta Analysis
Risk Metrics
Beta: 2.4879
Alpha: -113.18%
Correlation: 0.4231
R-Squared: 17.9%
Stock Volatility: 74.9%
Market Volatility: 12.7%
Analysis Details
Benchmark: SPY
Data Points: 251
Period: 252 trading days
Data Points: 251
Period: 252 trading days
Interpretation:
High volatility - stock moves more than market
High volatility - stock moves more than market
Beta & Alpha Over Time
Notable investors who own TMQ
3 of 37 tracked investors
| Investor | Value | Share of their portfolio | Rank | Q/Q shares | Source |
|---|---|---|---|---|---|
| Point72 Hedge fund Steve Cohen | $3.1M | #1145 of 1945 | +155.9% | 13F | |
| Citadel Hedge fund Ken Griffin | $2.8M | #2574 of 6285 | +158.1% | 13F | |
| Rockefeller Capital Management Family office Rockefeller family | $926K | #1751 of 4729 | +5.1% | 13F |
Hedge funds, activists, holding companies and family offices we track, from their latest 13F (quarter-end value) and Form 4 filings in the last 3 years. Family offices · all institutions
TMQ Institutional Ownership (13F)
Latest filings — 2026-09-30
? 13F Guide
Diluted shares outstanding: 171,324,169 (as of 2026-08-31)
Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.
- Shares — long equity positions in this name, aggregated across share classes.
- Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
- % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
- Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.
Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.
8 filers$4.78M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Susquehanna International Group, LLP Custodian | $3.31M | 69.17% | 2026-06-30 |
| 2 | IMC-Chicago, LLC Custodian | $510.70K | 10.69% | 2026-06-30 |
| 3 | Citadel Advisors LLC Custodian | $336.61K | 7.05% | 2026-06-30 |
| 4 | Simplex Trading, LLC Custodian | $215.51K | 4.51% | 2026-06-30 |
| 5 | Jane Street Group, LLC Custodian | $210.25K | 4.40% | 2026-06-30 |
| 6 | GROUP ONE TRADING LLC Custodian | $162.51K | 3.40% | 2026-06-30 |
| 7 | Wolverine Trading, LLC Custodian | $37.06K | 0.78% | 2025-09-30 |
| 8 | Cetera Investment Advisers Custodian | $225 | <0.01% | 2026-06-30 |
6 filers$2.29M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Susquehanna International Group, LLP Custodian | $1.03M | 45.07% | 2026-06-30 |
| 2 | Citadel Advisors LLC Custodian | $407.16K | 17.75% | 2026-06-30 |
| 3 | IMC-Chicago, LLC Custodian | $330.64K | 14.42% | 2026-06-30 |
| 4 | GROUP ONE TRADING LLC Custodian | $254.83K | 11.11% | 2026-06-30 |
| 5 | Jane Street Group, LLC Custodian | $177.61K | 7.74% | 2026-06-30 |
| 6 | Simplex Trading, LLC Custodian | $89.50K | 3.90% | 2026-06-30 |
TMQ Insider Trading (Form 4)
Latest: 2026-09-01Form 4 filings — insider beneficial-ownership changes by officers, directors, and 10%+ holders. Filed within 2 business days of transaction.
| Filed | Reporter | Role | Action | Shares | Avg Price | Net $ | Link |
|---|---|---|---|---|---|---|---|
| 2026-09-01 | Diana J Walters | Director | Grant (A) | +950 RSU | — | EDGAR | |
| 2026-09-01 | South32 Ltd | 10%+ Owner | Sell (S) | −16,431,140 | $2.17 | -$35.66M | EDGAR |
| 2026-06-01 | Diana J Walters | Director | Grant (A) | +791 RSU | — | EDGAR | |
| 2026-05-12 | William L. Iggiagruk Hensley | Director | Mixed | — | $2.51 | -$193.5K | EDGAR |
| 2026-04-24 | Diana J Walters | Director | Exer (M) | +50,000 | $1.61 | $80.5K | EDGAR |
| 2026-03-02 | Diana J Walters | Director | Grant (A) | +814 RSU | — | EDGAR | |
| 2026-02-27 | William L. Iggiagruk Hensley | Director | Sell (S) | −25,107 | $4.40 | -$110.5K | EDGAR |
| 2025-12-29 | ESOF GP Ltd. | 10%+ Owner | Gift (G) | −4,785,360 | — | EDGAR | |
| 2025-12-12 | William L. Iggiagruk Hensley | Director | Grant (A) | +50,000 opt | — | EDGAR | |
| 2025-12-12 | James Gowans | Director | Grant (A) | +50,000 opt | — | EDGAR | |
| 2025-12-12 | William Beckwith Hayden | Director | Grant (A) | +50,000 opt | — | EDGAR | |
| 2025-12-12 | Diana J Walters | Director | Grant (A) | +50,000 opt | — | EDGAR | |
| 2025-12-12 | Gregory A. Lang | Director | Grant (A) | +50,000 opt | — | EDGAR | |
| 2025-12-12 | Janice Stairs | Director | Grant (A) | +65,000 opt | — | EDGAR | |
| 2025-12-12 | Tony Giardini | President & CEO | Exer (M) | +60,000 | — | EDGAR |
Codes: P = open-market purchase · S = open-market sale · A = grant/award · M = option exercise · F = tax withholding at vest · G = bona-fide gift · D = disposition to issuer · J = other (described in filing footnote — typically 401(k), trust, inheritance) · W = will/inheritance. Only P / S codes carry directional signal.
TMQ Insider Holdings
10 insiders · @ $2.02
Officers, directors, and 10%+ owners who have filed a Form 4 in the past two years, ranked by current disclosed exposure (shares × today's price). Shares are direct + indirect (via trusts / LLCs / spouse). Excludes unvested RSU and option grants — those aren't beneficially owned until vest.
| # | Insider | Role | Shares | Disclosed Exposure | Lifetime OM Net | Filings | Last Filed |
|---|---|---|---|---|---|---|---|
| 1 | ESOF GP Ltd. | 10%+ Owner | 31,604,741 | $63.84M | $0 | 1 | 2025-12-29 |
| 2 | South32 Ltd | 10%+ Owner | 10,379,741 | $20.97M | -$33.26M | 2 | 2026-09-01 |
| 3 | Tony Giardini | President & CEO | 8,758,728 | $17.69M | $384.5K | 50 | 2025-12-12 |
| 4 | Elaine Sanders | VP & CFO | 3,347,895 | $6.76M | -$4.10M | 43 | 2025-12-12 |
| 5 | Janice Stairs | Director | 558,771 | $1.13M | -$396.2K | 55 | 2025-12-12 |
| 6 | William Beckwith Hayden | Director | 382,685 | $773.0K | -$1.82M | 42 | 2025-12-12 |
| 7 | Gregory A. Lang | Director | 382,000 | $771.6K | -$1.61M | 57 | 2025-12-12 |
| 8 | James Gowans | Director | 334,046 | $674.8K | -$672.9K | 44 | 2025-12-12 |
| 9 | Diana J Walters | Director | 101,302 | $204.6K | -$821.6K | 56 | 2026-09-01 |
| 10 | William L. Iggiagruk Hensley | Director | 18,531 | $37.4K | -$1.05M | 45 | 2026-05-12 |
Lifetime OM Net = signed sum of open-market buys (P) and sells (S) over their career; excludes grants, tax withholdings, and dispositions to issuer. A large negative number is normal for long-tenured executives — they've sold compensation grants over many years.
TMQ Board & Officers
As of SEC filings through Sep 1, 2026Directors 7
- Gregory A. Lang · since Nov 30, 2012
- Janice Stairs · since Nov 30, 2012
- Tony Giardini · since Nov 30, 2012
- William Beckwith Hayden · since Jun 19, 2015
- Diana J Walters · since May 18, 2016
- William L. Iggiagruk Hensley · since Dec 22, 2017
- James Gowans · since May 22, 2019
Officers 2
- Tony Giardini · President and CEO · listed since Jun 2020
- Elaine Sanders · VP and CFO · since Nov 30, 2012
10% owners 5
- ESOF GP Ltd. (entity) · listed since Apr 2023
- Electrum Group LLC (entity) · listed since Apr 2023
- Electrum Strategic Opportunities Fund L.P. (entity) · listed since Apr 2023
- GRAT Holdings LLC (entity) · listed since Dec 2025
- Thomas Scott Kaplan · listed since Apr 2023
Changes in the last 10 years (18)
| Sep 1, 2026 | South32 Ltd reported in an SEC filing no longer being a 10% owner |
| Sep 1, 2026 | South32 International Investment Holdings Proprietary Ltd reported in an SEC filing no longer being a 10% owner |
| Dec 29, 2025 | GRAT Holdings LLC first listed as a 10% owner in an SEC filing |
| May 18, 2023 | Kalidas V Madhavpeddi reported in an SEC filing no longer being a director |
| Apr 26, 2023 | Thomas Scott Kaplan first listed as a 10% owner in an SEC filing |
| Apr 26, 2023 | Electrum Strategic Opportunities Fund L.P. first listed as a 10% owner in an SEC filing |
| Apr 26, 2023 | Electrum Group LLC first listed as a 10% owner in an SEC filing |
| Apr 26, 2023 | ESOF GP Ltd. first listed as a 10% owner in an SEC filing |
| Jun 2, 2020 | Tony Giardini first listed as President and CEO in an SEC filing |
| Dec 27, 2019 | James Gowans no longer listed as Interim CEO in SEC filings |
| Oct 23, 2019 | James Gowans first listed as Interim CEO in an SEC filing |
| Sep 12, 2019 | Rick Van Nieuwenhuyse reported in an SEC filing no longer being a director |
| Sep 12, 2019 | Rick Van Nieuwenhuyse reported in an SEC filing no longer being President & CEO |
| May 23, 2019 | Gerald James McConnell reported in an SEC filing no longer being a director |
| May 22, 2019 | James Gowans became a director |
| Apr 20, 2018 | South32 Ltd became a 10% owner |
| Apr 20, 2018 | South32 International Investment Holdings Proprietary Ltd became a 10% owner |
| Dec 22, 2017 | William L. Iggiagruk Hensley became a director |
Not reported recently (1)
- Paulson & Co. Inc. · Last reported as a 10% owner in an SEC filing dated Jun 26, 2020
Compiled from SEC filings by the company and its directors and officers. Dates are as stated in those filings. Where no filing says when someone left, we show the last filing that listed them.
ETF Holders
11 ETFs hold TMQ
11 shown · $16.35M total exposure · 0.16% AUM-weighted avg weight
| # | ETF | Provider | Weight | $ Exposure | ETF AUM | As Of |
|---|---|---|---|---|---|---|
| 1 | SILJ Amplify Junior Silver Miners ETF | Amplify | 0.51% | $15.3M | $3.0B | 2026-10-26 |
| 2 | PICK iShares MSCI Global Metals & Mining Producers ETF | iShares (BlackRock) | 0.02% | $330,403 | $2.2B | 2026-10-23 |
| 3 | SETM Sprott Critical Materials ETF | Nport | 0.04% | $251,513 | — | 2026-06-30 |
| 4 | GWX State Street® SPDR® S&P® International Small Cap ETF | SPDR (State Street) | 0.02% | $160,095 | $896.9M | 2026-10-23 |
| 5 | FMAT Fidelity MSCI Materials Index ETF | Fidelity | 0.01% | $88,827 | $590.2M | 2026-10-23 |
| 6 | ISCF iShares International Small-Cap Equity Factor ETF | iShares (BlackRock) | 0.01% | $50,112 | $699.5M | 2026-10-23 |
| 7 | WDIG WisdomTree Efficient Rare Earth Plus Strategic Metals Fund | Nport | 0.63% | $49,972 | — | 2026-05-31 |
| 8 | SPGM State Street® SPDR® Portfolio MSCI Global Stock Market ETF | SPDR (State Street) | 0.00% | $24,869 | $1.8B | 2026-10-23 |
| 9 | AKAF The Frontier Economic Fund | Nport | 0.72% | $21,192 | — | 2026-05-31 |
| 10 | WSML iShares MSCI World Small-Cap ETF | iShares (BlackRock) | 0.00% | $15,792 | $657.8M | 2026-10-23 |
| 11 | MSML iShares MSCI USA Small-Cap ETF | iShares (BlackRock) | 0.00% | $9,472 | $273.4M | 2026-10-23 |
Fundamentals
Quarterly filings sourced from SEC 10-Q / 10-K reports. TTM tiles aggregate the most recent four quarters; bars show the last ~12 quarters oldest → newest.
Metrics
- Revenue — top-line sales. Look for consistent YoY growth; seasonal businesses need same-quarter comparisons (Q4 '24 vs Q4 '23).
- Net Income — bottom-line profit after all expenses. Can be volatile from one-time items; red bars = net loss.
- Diluted EPS — net income per share assuming options/converts are exercised. Direct input to the P/E ratio.
- Operating Cash Flow — cash generated from core operations, before capex and financing. Harder to manipulate than net income; growing OCF is a quality signal.
How to read the bars
- Sequential growth — quarter-over-quarter trend. Accelerating bars are a momentum signal.
- YoY growth — compare to the same quarter a year earlier to remove seasonality.
- Quality — OCF should roughly track Net Income over time. Large divergence (net income ≫ OCF) flags accruals risk.
- Margins — scan the bar ratios: Net Income / Revenue tells you margin trend without needing a separate chart.
TTM (trailing-twelve-month) smooths seasonality and is used for the P/E calculation. Filings appear 30–90 days after the period closes.
Trailing P/E
—
TTM Diluted EPS
$-0.29
TTM Revenue
$0.00
TTM Net Income
$-47.86M
TTM Op. Cash Flow
$-5.45M
Quarterly figures (12 quarters)
| Quarter | Period End | Revenue | Net Income | Diluted EPS | Op. Cash Flow |
|---|---|---|---|---|---|
| Q3 '26 | 2026-08-31 | $0.00 | $244.00K | $0.00 | $-1.11M |
| Q2 '26 | 2026-05-31 | — | $-6.34M | $-0.04 | $-1.04M |
| Q1 '26 | 2026-02-28 | — | $-7.06M | $-0.04 | $-2.74M |
| Q4 '25 | 2025-11-30 | — | $-34.69M | $-0.21 | $-558.00K |
| Q3 '25 | 2025-08-31 | $0.00 | $-1.75M | $-0.01 | $-1.26M |
| Q2 '25 | 2025-05-31 | — | $-2.18M | $-0.01 | $-677.00K |
| Q1 '25 | 2025-02-28 | — | $-3.62M | $-0.02 | $-748.00K |
| Q4 '24 | 2024-11-30 | — | $-1.64M | $-0.01 | $26.00K |
| Q3 '24 | 2024-08-31 | — | $-1.59M | $-0.01 | $-785.00K |
| Q2 '24 | 2024-05-31 | — | $-1.76M | $-0.01 | $-490.00K |
| Q1 '24 | 2024-02-29 | — | $-3.60M | $-0.02 | $-579.00K |
| Q4 '23 | 2023-11-30 | — | $-3.02M | $-0.02 | $-459.00K |
Q3 2026 • period ending 2026-08-31 • filed 2026-10-02
Valuation
Ratios derived from TTM financials and the current market price, sampled daily. History chart shows how expensive the stock is today relative to its own recent past.
Price Multiples
- P/E — price / TTM earnings. Rough market rule: 10–15 value, 15–25 market, >30 growth/premium. Negative when earnings are negative.
- P/B — price / book value. Useful for financials and asset-heavy names; meaningless for asset-light software.
- P/S — price / TTM revenue. Useful when earnings are negative or noisy (early-stage growth).
- EV/EBITDA — capital-structure-neutral. <10 cheap, 10–15 reasonable, >20 rich. Good for comparing across leverage profiles.
- EV/Sales — like P/S but accounts for debt + cash. Compare within sector.
Profitability & Yields
- ROE — return on equity. >15% strong, >25% exceptional. Caution: high leverage inflates ROE.
- ROA — return on assets. Leverage-neutral; >5% solid, >10% exceptional.
- Div Yield — annual dividend / price. Compare to 10Y Treasury; sustained yield >6% often signals distress.
- FCF Yield — free cash flow / market cap. >5% is attractive; negative means burning cash.
Balance Sheet
- Debt/Equity — leverage. <1 conservative, >2 aggressive. Sector-dependent (utilities naturally high, tech low).
- Current Ratio — short-term liquidity. >1.5 comfortable, <1 raises short-term solvency flags.
Reading the history chart
- Compare current level to the 3-year band: near the high end = relatively expensive; near the low = relatively cheap.
- Multiples expanding while earnings are flat = sentiment-driven rally.
- Multiples compressing while earnings grow = value coming from fundamentals.
P/E
—
P/B
2.96
P/S
—
EV/EBITDA
—
EV/Sales
—
ROE
-41.0%
ROA
-34.0%
Div Yield
0.00%
FCF Yield
-1.58%
Debt/Equity
0.00
Current Ratio
—
Market Cap
$346.07M
as of 2026-10-26
Short Interest & Float
Regulatory short-interest reports publish on a bi-weekly settlement cadence; short-volume is reported daily by the trade-reporting facilities. Float is derived from insider-ownership filings.
Metric definitions
- Short Interest — total shares currently sold short as of the settlement date. Lags real time by ~8 business days.
- SI % of Float — short interest / free float. The key crowding metric.
- Days to Cover — short interest / avg daily volume. How many full trading days it would take shorts to buy back. High DTC + catalyst = squeeze fuel.
- Short Vol Ratio — today's short-sale volume / total volume. Intraday selling pressure proxy (not the same as short interest).
- Free Float — shares available for public trading (total shares minus insider / restricted).
- Float % — free float / shares outstanding. <50% = tightly held, more prone to squeezes.
How to read the signals
- SI % of Float < 5% — typical, no particular signal.
- 5–15% — elevated; watch for catalysts (earnings, guidance, macro).
- 15–30% — heavily shorted; tight-float names in this range have produced notable squeezes historically.
- >30% — extreme; borrow is likely expensive and squeeze risk is material.
- Days to Cover > 5 combined with high SI% amplifies squeeze potential.
History chart
- Trend matters more than level. Rapidly rising short interest often precedes negative catalysts or heavy hedging.
- A sudden drop in SI after a rally may indicate a squeeze in progress.
Short interest is reported mid-month and end-of-month; short volume is daily.
Short Interest
6.92M
SI % of Float
5.71%
Days to Cover
5.97
Short Vol Ratio
45.7%
Free Float
121.20M
Float %
67.0%
Short interest 2026-09-30 • Short volume 2026-10-26 • Float 2026-10-02