International Tower Hill Mines (NYSE:THM) Trading Down 1.9% – Should You Sell?

International Tower Hill Mines Ltd. (NYSE:THM) dropped 1.9% during mid-day trading on Friday . The company traded as low as $2.09 and last traded at $2.12. Approximately 701,869 shares changed hands during mid-day trading, a decline of 16% from the average daily volume of 833,595 shares. The stock had previously closed at $2.16.

International Tower Hill Mines Price Performance

The company’s 50-day moving average price is $1.84 and its two-hundred day moving average price is $1.58. The company has a market capitalization of $440.72 million, a price-to-earnings ratio of -106.00 and a beta of 0.71.

Institutional Investors Weigh In On International Tower Hill Mines

Hedge funds have recently added to or reduced their stakes in the business. CWA Asset Management Group LLC grew its position in shares of International Tower Hill Mines by 27.1% during 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 period. Citadel Advisors LLC grew its holdings in International Tower Hill Mines by 1,238.5% in the third quarter. Citadel Advisors LLC now owns 219,307 shares of the company’s stock worth $360,000 after purchasing an additional 202,922 shares during the period. Captrust Financial Advisors acquired a new stake in International Tower Hill Mines in the second quarter worth $69,000. Jane Street Group LLC bought a new stake in International Tower Hill Mines in the second quarter valued at $77,000. Finally, Marshall Wace LLP acquired a new position in shares of International Tower Hill Mines during the second quarter valued at about $32,000. 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.