Why Trilogy Metals Stock Is Crashing This Week

By Scott Levine – Feb 19, 2026 at 1:10PM ESTKey PointsTrilogy Metals reported fourth-quarter 2025 financial results this week.A hedge fund reported in a regulatory filing that it has exited its position in Trilogy MetalsThese 10 Stocks Could Mint the Next Wave of Millionaires ›NYSEMKT: TMQTrilogy MetalsMarket Cap$645MToday's Changeangle-down(-5.44%) $0.20Current Price$3.56Price as of February 19, 2026 at 1:52 PM ETNot one, but two factors are leading a sell-off.February hasn't been kind to Trilogy Metals (TMQ 5.44%) 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. Image source: Getty Images. 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. ExpandNYSEMKT: TMQTrilogy MetalsToday's Change(-5.44%) $-0.20Current Price$3.56Key Data PointsMarket Cap$645MDay's Range$3.42 - $3.6652wk Range$1.13 - $11.29Volume197KAvg Vol5.1M 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.Read NextFeb 17, 2026 •By Eric VolkmanWhy Trilogy Metals Stock Tanked by Almost 12% TodayOct 27, 2025 •By Rich SmithWhy Trilogy Metals Stock Crashed TodayOct 14, 2025 •By Daily Stock NewsStock Market Today: Trilogy Metals Surges as Rally Continues After U.S. Defense InvestmentOct 7, 2025 •By Johnny RiceWhy Did Trilogy Metals Stock Skyrocket 211% Today?About the AuthorScott Levine is a contributing Motley Fool stock market analyst covering energy, industrials, technology, and materials. He is also a high school English teacher and a small business owner. He holds a bachelor’s degree in English and creative writing from Binghamton University, a master’s degree in secondary education from Adelphi University, and an advanced certificate in school building leadership from CUNY Queens College. A crossword puzzle enthusiast, he has solved more than 3,100 New York Times puzzles with a 97% solve rate.TMFProudMonkeyX@TMFProudMonkeyStocks MentionedTrilogy MetalsNYSEMKT: TMQ$3.56 (5.44%) $0.20*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.