International Tower Hill Mines (NYSE:THM) Shares Up 6.2% – What’s Next?

International Tower Hill Mines Ltd. (NYSE:THM) was up 6.2% during mid-day trading on Monday . The company traded as high as $2.86 and last traded at $2.8560. Approximately 493,579 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 2,164,908 shares. The stock had previously closed at $2.69.

International Tower Hill Mines Price Performance

The firm has a market cap of $599.75 million, a price-to-earnings ratio of -144.20 and a beta of 0.71. The firm’s fifty day moving average is $2.30 and its 200-day moving average is $1.90.

Insider Transactions at International Tower Hill Mines

In other news, major shareholder Paulson & Co. Inc. purchased 18,018,018 shares of the business’s stock in a transaction on Tuesday, January 27th. The shares were acquired at an average price of $2.22 per share, for a total transaction of $39,999,999.96. Following the completion of the acquisition, the insider owned 88,257,406 shares in the company, valued at approximately $195,931,441.32. The trade was a 25.65% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Global Holdings L.P. Electrum acquired 3,153,153 shares of the firm’s stock in a transaction dated Tuesday, January 27th. The shares were purchased at an average price of $2.22 per share, with a total value of $6,999,999.66. Following the acquisition, the insider owned 3,153,153 shares of the company’s stock, valued at approximately $6,999,999.66. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 32,486,803 shares of company stock worth $72,120,703 in the last three months. Insiders own 2.48% of the company’s stock.

Hedge Funds Weigh In On International Tower Hill Mines

A number of large investors have recently modified their holdings of THM. XTX Topco Ltd raised its holdings in International Tower Hill Mines by 26.5% during the fourth quarter. XTX Topco Ltd now owns 96,539 shares of the company’s stock worth $180,000 after buying an additional 20,208 shares during the last quarter. Tudor Investment Corp ET AL bought a new stake in International Tower Hill Mines during the 4th quarter worth approximately $41,000. Lombard Odier Asset Management USA Corp purchased a new stake in shares of International Tower Hill Mines in the fourth quarter worth approximately $324,000. Marshall Wace LLP raised its stake 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 last quarter. Finally, StoneX Group Inc. lifted its holdings in shares of International Tower Hill Mines by 43.3% in 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. 54.63% of the stock is currently 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.