International Tower Hill Mines (NYSE:THM) Stock Price Down 6.2% – Time to Sell?

International Tower Hill Mines Ltd. (NYSE:THM) shares traded down 6.2% on Thursday . The company traded as low as $2.64 and last traded at $2.6250. 101,367 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 1,450,364 shares. The stock had previously closed at $2.80.

International Tower Hill Mines Trading Up 2.3%

The firm has a market cap of $711.65 million, a P/E ratio of -136.00 and a beta of 0.96. The company’s 50-day moving average is $2.15 and its two-hundred day moving average is $2.43.

Hedge Funds Weigh In On International Tower Hill Mines

Hedge funds have recently bought and sold shares of the company. Ketron Financial bought a new stake in shares of International Tower Hill Mines in the 4th quarter worth $28,000. Tudor Investment Corp ET AL bought a new position in shares of International Tower Hill Mines during the fourth quarter valued at about $41,000. StoneX Group Inc. lifted its position in shares of International Tower Hill Mines by 43.3% during the fourth 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 in the last quarter. WINTON GROUP Ltd bought a new position in shares of International Tower Hill Mines during the fourth quarter valued at about $68,000. Finally, Marshall Wace LLP purchased a new position in International Tower Hill Mines during the second quarter worth about $32,000. 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.