International Tower Hill Mines (NYSE:THM) Trading 10.7% Higher – Here’s Why

International Tower Hill Mines Ltd. (NYSE:THM) shares rose 10.7% during mid-day trading on Monday . The stock traded as high as $2.81 and last traded at $2.8120. Approximately 824,737 shares traded hands during trading, a decline of 51% from the average daily volume of 1,699,631 shares. The stock had previously closed at $2.54.

International Tower Hill Mines Trading Up 11.4%

The firm has a market cap of $738.85 million, a P/E ratio of -141.50 and a beta of 0.85. The company’s 50 day simple moving average is $2.57 and its 200-day simple moving average is $2.25.

Insider Buying and Selling at International Tower Hill Mines

In other International Tower Hill Mines news, major shareholder Paulson & Co. Inc. acquired 4,913,665 shares of the stock in a transaction dated Thursday, April 16th. The shares were purchased at an average price of $2.56 per share, for a total transaction of $12,578,982.40. Following the purchase, the insider directly owned 104,486,703 shares of the company’s stock, valued at approximately $267,485,959.68. This trade represents a 4.93% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 2.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On International Tower Hill Mines

Several institutional investors have recently made changes to their positions in the business. TCI Wealth Advisors Inc. bought a new position in shares of International Tower Hill Mines in the 1st quarter worth approximately $97,000. Ketron Financial bought a new position in shares of International Tower Hill Mines in the 4th quarter worth approximately $28,000. XTX Topco Ltd lifted its stake in shares of International Tower Hill Mines by 26.5% in the 4th quarter. XTX Topco Ltd now owns 96,539 shares of the company’s stock worth $180,000 after purchasing an additional 20,208 shares during the period. Tudor Investment Corp ET AL bought a new position in shares of International Tower Hill Mines in the 4th quarter worth approximately $41,000. Finally, Lombard Odier Asset Management USA Corp bought a new position in shares of International Tower Hill Mines in the 4th quarter worth approximately $324,000. Institutional investors own 54.63% of the company’s stock.

About International Tower Hill Mines

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.