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

International Tower Hill Mines Ltd. (NYSE:THM) shares gapped up before the market opened on Monday . The stock had previously closed at $2.54, but opened at $2.88. International Tower Hill Mines shares last traded at $2.6440, with a volume of 732,726 shares changing hands.

International Tower Hill Mines Stock Down 4.9%

The stock has a market capitalization of $502.04 million, a P/E ratio of -121.50 and a beta of 0.71. The company has a fifty day moving average price of $1.97 and a 200-day moving average price of $1.69.

Hedge Funds Weigh In On International Tower Hill Mines

Several institutional investors have recently bought and sold shares of THM. CWA Asset Management Group LLC increased its holdings in shares of International Tower Hill Mines by 27.1% in the 4th quarter. CWA Asset Management Group LLC now owns 128,635 shares of the company’s stock worth $239,000 after buying an additional 27,394 shares during the last quarter. XTX Topco Ltd increased its position in International Tower Hill Mines by 97.7% during the second quarter. XTX Topco Ltd now owns 59,074 shares of the company’s stock valued at $51,000 after acquiring an additional 29,186 shares during the last quarter. Marshall Wace LLP purchased a new stake in International Tower Hill Mines in the 2nd quarter worth about $32,000. Captrust Financial Advisors purchased a new stake in shares of International Tower Hill Mines in the second quarter worth approximately $69,000. Finally, Jane Street Group LLC purchased a new stake in International Tower Hill Mines in the second quarter worth $77,000. Institutional investors own 54.63% of the company’s stock.

About International Tower Hill Mines

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.