International Tower Hill Mines (NYSE:THM) Shares Down 8.9% – Here’s What Happened

International Tower Hill Mines Ltd. (NYSE:THM) shares fell 8.9% during trading on Tuesday . The company traded as low as $2.18 and last traded at $2.1950. 402,425 shares traded hands during trading, a decline of 74% from the average session volume of 1,529,015 shares. The stock had previously closed at $2.41.

International Tower Hill Mines Price Performance

The business’s 50-day moving average price is $2.35 and its two-hundred day moving average price is $2.42. The company has a market capitalization of $563.83 million, a P/E ratio of -108.25 and a beta of 0.94.

Insider Buying and Selling at International Tower Hill Mines

In other International Tower Hill Mines news, major shareholder Paulson & Co. Inc. purchased 4,913,665 shares of International Tower Hill Mines stock in a transaction that occurred on Thursday, April 16th. The stock was acquired at an average price of $2.56 per share, for a total transaction of $12,578,982.40. Following the completion of the acquisition, the insider 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 position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 2.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On International Tower Hill Mines

Several hedge funds and other institutional investors have recently added to or reduced their stakes in THM. Paulson & CO. Inc. boosted its holdings in shares of International Tower Hill Mines by 41.8% in the 1st quarter. Paulson & CO. Inc. now owns 99,573,038 shares of the company’s stock valued at $229,018,000 after purchasing an additional 29,333,650 shares in the last quarter. Electrum Group LLC acquired a new stake in International Tower Hill Mines in the fourth quarter valued at about $53,504,000. Kopernik Global Investors LLC boosted its stake in International Tower Hill Mines by 22.2% in the first quarter. Kopernik Global Investors LLC now owns 17,650,432 shares of the company’s stock valued at $40,596,000 after buying an additional 3,202,014 shares in the last quarter. Marshall Wace LLP grew its position in International Tower Hill Mines by 151.3% in the fourth quarter. Marshall Wace LLP now owns 888,168 shares of the company’s stock valued at $1,652,000 after acquiring an additional 534,792 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in International Tower Hill Mines by 57,043.0% during the first quarter. Bank of America Corp DE now owns 285,715 shares of the company’s stock worth $657,000 after acquiring an additional 285,215 shares in the last quarter. 54.63% of the stock is owned by institutional investors and hedge funds.

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.