International Tower Hill Mines Ltd. (NYSE:THM – Get Free Report) shares fell 7.3% during trading on Wednesday . The company traded as low as $2.73 and last traded at $2.7350. Approximately 130,821 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 1,358,501 shares. The stock had previously closed at $2.95.
International Tower Hill Mines Stock Down 6.0%
The company’s 50 day moving average is $2.39 and its 200 day moving average is $2.38. The firm has a market capitalization of $726.41 million, a price-to-earnings ratio of -138.25 and a beta of 1.04.
Institutional Investors Weigh In On International Tower Hill Mines
Hedge funds have recently made changes to their positions in the stock. Paulson & CO. Inc. acquired a new position in shares of International Tower Hill Mines during the second quarter worth $207,929,000. Electrum Group LLC acquired a new stake in International Tower Hill Mines in the second quarter valued at $63,518,462. Kopernik Global Investors LLC increased its holdings in International Tower Hill Mines by 22.2% in the first quarter. Kopernik Global Investors LLC now owns 17,650,432 shares of the company’s stock valued at $40,596,000 after purchasing an additional 3,202,014 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in International Tower Hill Mines during the 2nd quarter worth $1,138,000. Finally, Bank of America Corp DE raised its position in International Tower Hill Mines by 57,043.0% during the 1st quarter. Bank of America Corp DE now owns 285,715 shares of the company’s stock worth $657,000 after purchasing an additional 285,215 shares during the last quarter. 54.63% of the stock is currently owned by institutional investors and hedge funds.
About International Tower Hill Mines
International Tower Hill Mines Ltd. is a mineral exploration and development company focused on advancing gold properties in Alaska. The company’s principal asset is the Livengood Gold Project, located approximately 70 miles northwest of Fairbanks in the Tintina Gold Belt.
The Livengood project centers on the Money Knob deposit, a large, low-grade gold system that the company is evaluating for potential development using conventional open-pit mining and processing methods. International Tower Hill Mines’ activities include exploration, resource evaluation, engineering studies, permitting, and other technical work intended to assess the project’s economic and development potential.
The company has historically focused its operations on Alaska and does not currently operate producing mines.
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