International Tower Hill Mines (NYSE:THM) Shares Down 7.3% – Should You Sell?

International Tower Hill Mines Ltd. (NYSE:THM) traded down 7.3% during trading on Thursday . The company traded as low as $3.04 and last traded at $3.07. 624,865 shares changed hands during trading, a decline of 72% from the average session volume of 2,208,831 shares. The stock had previously closed at $3.31.

International Tower Hill Mines Stock Performance

The firm has a market capitalization of $627.81 million, a P/E ratio of -151.00 and a beta of 0.71. The stock has a 50 day moving average of $2.51 and a 200-day moving average of $2.00.

Insider Buying and Selling at International Tower Hill Mines

In related news, major shareholder Global Holdings L.P. Electrum bought 3,153,153 shares of the business’s stock in a transaction on Tuesday, January 27th. The stock was acquired at an average price of $2.22 per share, for a total transaction of $6,999,999.66. Following the purchase, the insider directly owned 3,153,153 shares in the company, valued at $6,999,999.66. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Paulson & Co. Inc. purchased 1,501,982 shares of the firm’s stock in a transaction dated Thursday, January 29th. The shares were bought at an average price of $2.22 per share, for a total transaction of $3,334,400.04. Following the completion of the transaction, the insider owned 99,573,038 shares of the company’s stock, valued at approximately $221,052,144.36. This trade represents a 1.53% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have acquired 32,486,803 shares of company stock worth $72,120,703. Company insiders own 2.48% of the company’s stock.

Hedge Funds Weigh In On International Tower Hill Mines

Several hedge funds have recently bought and sold shares of THM. Electrum Group LLC purchased a new stake in International Tower Hill Mines in the 4th quarter worth approximately $53,504,000. Marshall Wace LLP increased its holdings in shares of International Tower Hill Mines by 151.3% in the fourth quarter. Marshall Wace LLP now owns 888,168 shares of the company’s stock worth $1,652,000 after purchasing an additional 534,792 shares during the period. Citadel Advisors LLC raised its position in shares of International Tower Hill Mines by 1,238.5% in the third quarter. Citadel Advisors LLC now owns 219,307 shares of the company’s stock worth $360,000 after buying an additional 202,922 shares in the last quarter. Lombard Odier Asset Management USA Corp bought a new stake in International Tower Hill Mines during the fourth quarter valued at $324,000. Finally, CWA Asset Management Group LLC grew its position in International Tower Hill Mines by 27.1% during 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 in the last quarter. Hedge funds and other institutional investors own 54.63% of the company’s stock.

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.