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Friday 6 November 2026
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Trilogy Metals Inc.
TMQ Basic Materials Other Industrial Metals & Mining
- EPS
- +114.0%
- Free cash flow
- +11.9%
Quarter to August 2026, against a year earlier
2.05
0.14
−6.39%
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Target Price Range
Analyst price targets
Free accountTen years at a glance
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Aug ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |
| Gross margin, % | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | — | — | 0.00 | 0.0 pt | ||||||
| EBT | (9) | (21) | (22) | (28) | 162 | (22) | (24) | (15) | (9) | (42) | (48) | +19.1% | ||||||
| EBT margin, % | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 pt | ||||||
| Net income | (5) | (21) | (22) | (28) | 162 | (22) | (24) | (15) | (9) | (42) | (48) | +27.2% | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | n/m | |||||
| Earnings | (0.05) | (0.20) | (0.18) | (0.21) | 1.14 | (0.15) | (0.17) | (0.10) | (0.05) | (0.26) | (0.29) | +20.1% | ||||||
| Cash flow | (0.08) | (0.15) | (0.18) | (0.17) | (0.06) | (0.04) | (0.03) | (0.02) | (0.01) | (0.02) | (0.03) | (14.7%) | ||||||
| Capex | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | n/m | ||||||
| Free cash flow | (0.08) | (0.15) | (0.18) | (0.18) | (0.06) | (0.04) | (0.03) | (0.02) | (0.01) | (0.02) | (0.03) | (14.9%) | ||||||
| Book value | 0.44 | 0.24 | 0.26 | 0.14 | 1.30 | 1.15 | 1.00 | 0.90 | 0.83 | 0.75 | 0.68 | +6.2% | ||||||
| Shares, m | 105 | 106 | 122 | 135 | 141 | 144 | 146 | 153 | 160 | 165 | 171 | +5.1% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | — | — | — | — | — | 0 | — | |||||
| P/S | — | — | — | — | — | — | — | — | — | — | 0 | — | ||||||
| P/B | — | — | — | — | — | — | — | — | — | — | 0 | — | ||||||
| EV/Sales | — | — | — | — | — | — | — | — | — | — | 0 | — | ||||||
| EV/FCF | — | — | — | — | — | — | — | — | — | — | 0 | — | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | (9) | (15) | (22) | (23) | (8) | (5) | (4) | (3) | (2) | (3) | (5) | (10.4%) | |||||
| Capex | 0 | 0 | 0 | (1) | — | — | 0 | — | — | — | 0 | n/m | ||||||
| Free cash flow | (9) | (16) | (22) | (24) | (8) | (5) | (4) | (3) | (2) | (3) | (5) | (10.5%) | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | 15 | 5 | 22 | 18 | 10 | 6 | 2 | 2 | 25 | 19 | 8 | +2.5% | |||||
| Net debt | (15) | (8) | (23) | (19) | (11) | (6) | (3) | (3) | (26) | (52) | (31) | +14.8% | ||||||
| Shareholders’ equity | 46 | 26 | 32 | 18 | 184 | 166 | 145 | 138 | 133 | 124 | 117 | +11.6% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | (9.93) | (48.50) | (46.03) | (52.51) | 136.58 | (12.29) | (15.48) | (10.53) | (6.32) | (29.03) | (35.47) | (19.1) pt | |||||
| ROIC | (17.82) | (66.62) | (148.76) | 0.00 | (4.40) | (3.37) | (3.07) | (3.35) | (3.91) | (8.12) | (8.92) | +9.7 pt | ||||||
| ROE | (10.07) | (58.77) | (75.51) | (110.59) | 160.11 | (12.38) | (15.58) | (10.57) | (6.35) | (32.88) | (38.99) | (22.8) pt | ||||||
| People | ||||||||||||||||||
| People | Employees | 7 | 8 | 12 | 13 | 8 | 7 | 5 | 5 | 5 | 5 | — | (3.7%) | |||||
| Revenue/emp, $m | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fundamentals updated 7 Oct 2026
Trilogy Metals Inc. vs peers in Other Industrial Metals & Mining (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| ELVR Elevra Lithium Limited - Sponsored ADR | $467.8M | — | — | — | — | — | — | — | Compare |
| ALOY REalloys Inc. | $408.3M | — (loss-making) | — (loss-making) | +82.73% (above 0%: growing) | n/m | −4,222.78% (below 0%: shrinking) | 59.08% | (4,577.61%) | Compare |
| NB NioCorp Developments Ltd. | $394.5M | — (loss-making) | — | — | n/m | −26.61% (below 0%: shrinking) | 0.00% | 0.00% | Compare |
| UAMY United States Antimony Corporation | $387.6M | — (loss-making) | — (loss-making) | −24.70% (below 0%: shrinking) | −46.67% (below 0%: shrinking) | −163.88% (below 0%: shrinking) | 7.36% | (88.08%) | Compare |
| TMQ Trilogy Metals Inc. | $366.4M | — (loss-making) | — | — | n/m | +11.94% (above 0%: growing) | 0.00% | 0.00% | |
| LZM Lifezone Metals Limited | $358.8M | — (loss-making) | — (loss-making) | −52.49% (below 0%: shrinking) | n/m | +47.94% (above 0%: growing) | 62.62% | (2,005.98%) | Compare |
| WRN Western Copper and Gold Corporation | $348.3M | — (loss-making) | — | — | n/m | −2.44% (below 0%: shrinking) | 0.00% | 0.00% | Compare |
| SLI Standard Lithium Ltd. | $338.1M | — (loss-making) | — | — | n/m | −487.43% (below 0%: shrinking) | 0.00% | 0.00% | Compare |
| NMG Nouveau Monde Graphite Inc. | $265.0M | — (loss-making) | — | — | n/m | −11.32% (below 0%: shrinking) | 0.00% | 0.00% | Compare |
| Median of peers | $373.2M | — | — | −24.70% | — | −26.61% | 0.00% | 0.00% |
Pay and ownership Proxy statement filed 27 March 2026
Ownership
Directors and executive officers, together
14.60%
Electrum Strategic Opportunities Fund L.P. (“Electrum”)
18.30%
South32 Limited (“South32”)
10.80%
Tony Giardini
7.60%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement