International Tower Hill Mines (NYSE:THM) Trading Up 10% – Here’s What Happened

International Tower Hill Mines Ltd. (NYSE:THM) shot up 10% during mid-day trading on Wednesday . The stock traded as high as $2.1190 and last traded at $2.09. Approximately 1,085,633 shares traded hands during mid-day trading, a decline of 25% from the average session volume of 1,440,589 shares. The stock had previously closed at $1.90.

International Tower Hill Mines Stock Performance

The company has a market cap of $545.51 million, a PE ratio of -104.00 and a beta of 0.94. The stock has a 50 day moving average of $2.15 and a 200-day moving average of $2.42.

Hedge Funds Weigh In On International Tower Hill Mines

Several hedge funds and other institutional investors have recently bought and sold shares of THM. Kopernik Global Investors LLC lifted its stake in International Tower Hill Mines by 22.2% during the 1st quarter. Kopernik Global Investors LLC now owns 17,650,432 shares of the company’s stock valued at $40,596,000 after acquiring an additional 3,202,014 shares during the period. Paulson & CO. Inc. increased its stake in shares of International Tower Hill Mines by 41.8% in the first quarter. Paulson & CO. Inc. now owns 99,573,038 shares of the company’s stock worth $229,018,000 after acquiring an additional 29,333,650 shares during the period. Electrum Group LLC acquired a new stake in shares of International Tower Hill Mines in the fourth quarter worth $53,504,000. Lombard Odier Asset Management USA Corp purchased a new position in shares of International Tower Hill Mines during the fourth quarter worth $324,000. Finally, Ketron Financial purchased a new position in shares of International Tower Hill Mines during the fourth quarter worth $28,000. Institutional investors and hedge funds 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.