International Tower Hill Mines (NYSE:THM) Shares Gap Down – What’s Next?

International Tower Hill Mines Ltd. (NYSE:THM) shares gapped down prior to trading on Wednesday . The stock had previously closed at $2.06, but opened at $1.94. International Tower Hill Mines shares last traded at $2.0250, with a volume of 190,991 shares traded.

International Tower Hill Mines Price Performance

The firm has a market capitalization of $508.88 million, a P/E ratio of -97.25 and a beta of 0.88. The stock’s 50-day simple moving average is $2.47 and its two-hundred day simple moving average is $2.37.

Insider Transactions at International Tower Hill Mines

In other International Tower Hill Mines news, major shareholder Paulson & Co. Inc. purchased 4,913,665 shares of the firm’s stock in a transaction that occurred on Thursday, April 16th. The shares were bought at an average price of $2.56 per share, with a total value of $12,578,982.40. Following the completion of the purchase, the insider directly owned 104,486,703 shares in the company, valued at $267,485,959.68. This trade represents a 4.93% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On International Tower Hill Mines

Hedge funds have recently bought and sold shares of the business. Electrum Group LLC purchased a new stake in International Tower Hill Mines during the fourth quarter valued at $53,504,000. XTX Topco Ltd raised its stake 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 valued at $180,000 after purchasing an additional 20,208 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of International Tower Hill Mines in the second quarter valued at $77,000. HighTower Advisors LLC purchased a new stake in shares of International Tower Hill Mines in the fourth quarter valued at $74,000. Finally, Captrust Financial Advisors purchased a new stake in shares of International Tower Hill Mines in the second quarter valued at $69,000. Hedge funds and other institutional investors own 54.63% of the company’s stock.

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.