February hasn't been kind to Trilogy Metals (TMQ +0.00%) stock. Through the first half of the month, shares of the exploration and development mining company had fallen more than 16%. And things have continued heading south over the past few days. The company reported fourth-quarter 2025 financial results this week, and a well-known billionaire exited his position in Trilogy Metals -- two catalysts for the stock's recent decline.
According to data provided by S&P Global Market Intelligence, shares of Trilogy Metals are down 14.2% from the end of trading last Friday through 11:21 a.m. ET today.
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This one-two punch has investors clicking the sell button
On Tuesday, Trilogy Metals reported Q4 2025 financial results, including a net loss of $34.7 million. The quarterly loss contributed to the company incurring a net loss of $42.2 million for the year, or a diluted loss per share of $0.26 -- a steeper loss than the $0.05 diluted loss per share that it reported in 2024.
NYSEMKT: TMQ
Key Data Points
The other factor contributing to the sell-off in Trilogy Metals this week is a regulatory filing by billionaire John Paulson's hedge fund, Paulson & Co., which reported that it had exited its position in Trilogy Metals. Whereas it had reported holding 14,326,996 shares of Trilogy Metals in its November 2025 Form 13F filing, the Form 13F submitted this week revealed that it no longer held any shares.
What's a metals investor to do now?
While the decline in Trilogy Metals stock may be disconcerting, neither the company's Q4 2025 financial results nor the exit of Paulson & Co.'s position (hedge funds sell stocks for a variety of reasons) should compel current shareholders to trim -- or close -- their positions. With the mining company continuing exploration and development activities of the Upper Kobuk Mineral Projects in Alaska, it will incur additional net losses for the foreseeable future, so investors will have to exercise patience. If you were bullish on the mining stock yesterday, nothing has changed.
