International Tower Hill Mines (NYSE:THM) Shares Gap Up – Time to Buy?

International Tower Hill Mines Ltd. (NYSE:THM – Get Free Report) shares gapped up prior to trading on Monday . The stock had previously closed at $2.09, but opened at $2.28. International Tower Hill Mines shares last traded at $2.3050, with a volume of 179,553 shares traded.

International Tower Hill Mines Price Performance

The company has a fifty day moving average price of $2.45 and a two-hundred day moving average price of $2.39. The firm has a market cap of $607.00 million, a price-to-earnings ratio of -116.00 and a beta of 0.88.

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Insider Activity

In related news, major shareholder Paulson & Co. Inc. purchased 4,913,665 shares of the company’s stock in a transaction on Thursday, April 16th. The shares were bought at an average price of $2.56 per share, with a total value of $12,578,982.40. Following the completion of the acquisition, the insider owned 104,486,703 shares of the company’s stock, valued at approximately $267,485,959.68. This represents a 4.93% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On International Tower Hill Mines

A number of institutional investors and hedge funds have recently modified their holdings of THM. StoneX Group Inc. boosted its position in shares of International Tower Hill Mines by 43.3% in the 4th quarter. StoneX Group Inc. now owns 27,389 shares of the company’s stock valued at $51,000 after purchasing an additional 8,281 shares during the period. Ketron Financial purchased a new stake in International Tower Hill Mines during the fourth quarter valued at about $28,000. XTX Topco Ltd lifted its stake in International Tower Hill Mines by 26.5% during the fourth quarter. XTX Topco Ltd now owns 96,539 shares of the company’s stock valued at $180,000 after buying an additional 20,208 shares in the last quarter. Tudor Investment Corp ET AL acquired a new position in shares of International Tower Hill Mines in the fourth quarter worth about $41,000. Finally, CWA Asset Management Group LLC boosted its holdings in shares of International Tower Hill Mines by 27.1% in the fourth quarter. CWA Asset Management Group LLC now owns 128,635 shares of the company’s stock worth $239,000 after buying an additional 27,394 shares during the period. 54.63% of the stock is owned by institutional investors and hedge funds.

International Tower Hill Mines Company Profile

(Get Free Report)

International Tower Hill Mines Ltd. (NYSE American: THM) is a mineral exploration and development company focused on advancing its flagship Livengood gold project in Alaska, United States. Headquartered in Vancouver, Canada, the company’s primary business activity is the exploration, permitting and feasibility study of the Livengood deposit, which hosts a large-scale, low‐sulfidation gold system. Through systematic drilling programs and resource modeling, International Tower Hill Mines aims to define and expand gold resources while advancing environmental and engineering studies toward a potential mining operation.

The Livengood project, situated approximately 70 miles northwest of Fairbanks, Alaska, has been the focal point of International Tower Hill Mines’ efforts since acquiring the property in 2011.

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