International Tower Hill Mines (NYSE:THM) Trading Down 8.9% – What’s Next?

International Tower Hill Mines Ltd. (NYSE:THM) traded down 8.9% during mid-day trading on Tuesday . The company traded as low as $2.18 and last traded at $2.1950. 402,425 shares were traded during mid-day trading, a decline of 74% from the average session volume of 1,529,015 shares. The stock had previously closed at $2.41.

International Tower Hill Mines Stock Performance

The company’s 50-day moving average price is $2.33 and its 200 day moving average price is $2.42. The stock has a market capitalization of $569.06 million, a P/E ratio of -108.75 and a beta of 0.94.

Insider Activity

In other International Tower Hill Mines news, major shareholder Paulson & Co. Inc. bought 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 purchase, the insider owned 104,486,703 shares of the company’s stock, 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 document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On International Tower Hill Mines

A number of institutional investors have recently added to or reduced their stakes in the stock. Paulson & CO. Inc. raised its position in shares of International Tower Hill Mines by 41.8% during the first quarter. Paulson & CO. Inc. now owns 99,573,038 shares of the company’s stock valued at $229,018,000 after buying an additional 29,333,650 shares during the last quarter. Electrum Group LLC purchased a new position in International Tower Hill Mines during the fourth quarter valued at $53,504,000. Kopernik Global Investors LLC grew its stake in International Tower Hill Mines by 22.2% during the first quarter. Kopernik Global Investors LLC now owns 17,650,432 shares of the company’s stock valued at $40,596,000 after acquiring an additional 3,202,014 shares in the last quarter. Marshall Wace LLP increased its holdings in International Tower Hill Mines by 151.3% in the 4th quarter. Marshall Wace LLP now owns 888,168 shares of the company’s stock valued at $1,652,000 after acquiring an additional 534,792 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in International Tower Hill Mines by 57,043.0% in the 1st quarter. Bank of America Corp DE now owns 285,715 shares of the company’s stock valued at $657,000 after acquiring an additional 285,215 shares during the last quarter. 54.63% of the stock is owned by hedge funds and other institutional investors.

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.