International Tower Hill Mines (NYSE:THM) Stock Price Down 0.5% – Here’s What Happened

Shares of International Tower Hill Mines Ltd. (NYSE:THM) fell 0.5% on Thursday . The company traded as low as $1.8550 and last traded at $1.90. 286,071 shares traded hands during mid-day trading, a decline of 46% from the average session volume of 533,738 shares. The stock had previously closed at $1.91.

International Tower Hill Mines Stock Performance

The company has a market capitalization of $428.24 million, a PE ratio of -103.00 and a beta of 0.70. The firm has a fifty day simple moving average of $1.84 and a 200 day simple moving average of $1.46.

Hedge Funds Weigh In On International Tower Hill Mines

A number of institutional investors have recently modified their holdings of THM. Marshall Wace LLP purchased a new stake in shares of International Tower Hill Mines during the second quarter worth about $32,000. XTX Topco Ltd grew 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 in the last quarter. Captrust Financial Advisors purchased a new stake in International Tower Hill Mines during the second quarter worth about $69,000. Jane Street Group LLC acquired a new stake in shares of International Tower Hill Mines in the second quarter valued at $77,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of International Tower Hill Mines by 589.1% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 120,600 shares of the company’s stock valued at $104,000 after buying an additional 103,100 shares during the period. 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.