International Tower Hill Mines Ltd. (NYSE:THM – Get Free Report)’s share price shot up 6.5% during mid-day trading on Wednesday . The company traded as high as $2.54 and last traded at $2.5550. 175,477 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 1,402,302 shares. The stock had previously closed at $2.40.
International Tower Hill Mines Trading Up 4.8%
The business has a fifty day moving average of $2.28 and a 200 day moving average of $2.43. The company has a market capitalization of $658.02 million, a PE ratio of -125.25 and a beta of 1.04.
Institutional Investors Weigh In On International Tower Hill Mines
Large investors have recently modified their holdings of the company. Paulson & CO. Inc. acquired a new stake in International Tower Hill Mines in the second quarter valued at $207,929,000. Electrum Group LLC acquired a new position in International Tower Hill Mines during the second quarter worth approximately $63,518,462. Kopernik Global Investors LLC raised its position in International Tower Hill Mines by 22.2% in the 1st 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 last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of International Tower Hill Mines in the second quarter valued at about $1,138,000. Finally, Marshall Wace LLP raised its stake in International Tower Hill Mines by 151.3% during the 4th quarter. Marshall Wace LLP now owns 888,168 shares of the company’s stock valued at $1,652,000 after acquiring an additional 534,792 shares during the last quarter. 54.63% of the stock is owned by hedge funds and other institutional investors.
International Tower Hill Mines Company Profile
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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