International Tower Hill Mines (NYSE:THM) Shares Climb 7% – Here’s Why

International Tower Hill Mines Ltd. (NYSE:THM – Get Free Report)’s stock price traded up 7% on Monday. The stock traded as high as $1.98 and last traded at $1.9260. 177,020 shares traded hands during trading, a decline of 86% from the average daily volume of 1,243,931 shares. The stock had previously closed at $1.80.

International Tower Hill Mines Stock Performance

The stock’s 50 day simple moving average is $2.37 and its 200-day simple moving average is $2.42. The firm has a market cap of $471.50 million, a price-to-earnings ratio of -90.00 and a beta of 1.00.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Paulson & CO. Inc. acquired a new stake in shares of International Tower Hill Mines during the 2nd quarter worth approximately $207,929,000. Electrum Group LLC purchased a new position in International Tower Hill Mines in the second quarter valued at $63,518,462. Greenwich Wealth Management LLC raised its position in shares of International Tower Hill Mines by 60.7% in the second quarter. Greenwich Wealth Management LLC now owns 16,074,898 shares of the company’s stock worth $31,989,000 after acquiring an additional 6,074,898 shares during the period. Kopernik Global Investors LLC raised its position in shares of 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 worth $40,596,000 after acquiring an additional 3,202,014 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of International Tower Hill Mines during the 2nd quarter worth about $1,138,000. 54.63% of the stock is currently owned by hedge funds and other institutional investors.

International Tower Hill Mines Company Profile

(Get Free Report)

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, a large-scale gold development project located approximately 70 miles northwest of Fairbanks.

International Tower Hill Mines is working to evaluate and advance Livengood through exploration, engineering, permitting and project-development activities. The company does not operate a producing mine and is focused primarily on defining the project’s potential and assessing the requirements for future development.

Founded in Canada, International Tower Hill Mines is headquartered in Vancouver, British Columbia, and its activities are concentrated in Alaska.

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