International Tower Hill Mines (NYSE:THM) Reaches New 12-Month High Following Insider Buying Activity

International Tower Hill Mines Ltd. (NYSE:THM)’s stock price reached a new 52-week high during mid-day trading on Wednesday after an insider bought additional shares in the company. The company traded as high as $3.65 and last traded at $3.0290, with a volume of 3213339 shares. The stock had previously closed at $2.87.

Specifically, major shareholder Paulson & Co. Inc. purchased 18,018,018 shares of the company’s stock in a transaction on Tuesday, January 27th. The shares were purchased at an average cost of $2.22 per share, with a total value of $39,999,999.96. Following the completion of the purchase, the insider owned 88,257,406 shares in the company, valued at $195,931,441.32. This represents a 25.65% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

International Tower Hill Mines Trading Up 3.7%

The firm’s 50-day moving average price is $2.01 and its 200 day moving average price is $1.71. The company has a market cap of $618.87 million, a price-to-earnings ratio of -148.25 and a beta of 0.71.

Institutional Trading of International Tower Hill Mines

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in THM. Marshall Wace LLP bought a new position in shares of International Tower Hill Mines in the second quarter valued at approximately $32,000. XTX Topco Ltd raised its stake in shares of International Tower Hill Mines by 97.7% in the second quarter. XTX Topco Ltd now owns 59,074 shares of the company’s stock valued at $51,000 after buying an additional 29,186 shares during the period. Captrust Financial Advisors purchased a new position in shares of International Tower Hill Mines during the 2nd quarter valued at $69,000. Jane Street Group LLC purchased a new position in shares of International Tower Hill Mines during the 2nd quarter valued at $77,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of International Tower Hill Mines by 589.1% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 120,600 shares of the company’s stock worth $104,000 after acquiring an additional 103,100 shares during the period. 54.63% of the stock is owned by 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.