International Tower Hill Mines (NYSE:THM) Shares Gap Down – Should You Sell?

International Tower Hill Mines Ltd. (NYSE:THM)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $2.05, but opened at $1.91. International Tower Hill Mines shares last traded at $1.9750, with a volume of 136,366 shares traded.

International Tower Hill Mines Price Performance

The company has a market capitalization of $506.27 million, a P/E ratio of -97.25 and a beta of 0.88. The stock’s fifty day simple moving average is $2.42 and its 200-day simple moving average is $2.40.

Insider Transactions at International Tower Hill Mines

In related news, major shareholder Paulson & Co. Inc. bought 4,913,665 shares of the business’s stock in a transaction that occurred on Thursday, April 16th. The stock was purchased at an average cost of $2.56 per share, for a total transaction of $12,578,982.40. Following 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Ketron Financial acquired a new position in shares of International Tower Hill Mines during the fourth quarter valued at about $28,000. Marshall Wace LLP bought a new position in International Tower Hill Mines during the second quarter valued at about $32,000. Tudor Investment Corp ET AL bought a new position in International Tower Hill Mines during the fourth quarter valued at about $41,000. XTX Topco Ltd raised its holdings in International Tower Hill Mines by 97.7% in the 2nd 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 in the last quarter. Finally, StoneX Group Inc. raised its holdings in International Tower Hill Mines by 43.3% in the 4th quarter. StoneX Group Inc. now owns 27,389 shares of the company’s stock valued at $51,000 after acquiring an additional 8,281 shares in the last quarter. 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.