International Tower Hill Mines (NYSE:THM) Shares Gap Up – Still a Buy?

International Tower Hill Mines Ltd. (NYSE:THM)’s share price gapped up prior to trading on Monday . The stock had previously closed at $2.60, but opened at $2.80. International Tower Hill Mines shares last traded at $2.6410, with a volume of 166,410 shares.

International Tower Hill Mines Stock Up 2.5%

The business has a fifty day moving average price of $2.37 and a 200-day moving average price of $2.39. The stock has a market capitalization of $697.86 million, a P/E ratio of -133.25 and a beta of 1.04.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Paulson & CO. Inc. purchased a new position in shares of International Tower Hill Mines in the 2nd quarter worth $207,929,000. Kopernik Global Investors LLC grew its holdings in shares of International Tower Hill Mines by 22.2% in the first quarter. Kopernik Global Investors LLC now owns 17,650,432 shares of the company’s stock worth $40,596,000 after purchasing an additional 3,202,014 shares during the last quarter. Electrum Group LLC purchased a new stake in shares of International Tower Hill Mines in the 2nd quarter worth $63,518,462. Connor Clark & Lunn Investment Management Ltd. purchased a new position in International Tower Hill Mines during the 2nd quarter valued at about $1,138,000. Finally, Bank of America Corp DE lifted its position in shares of 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 worth $657,000 after purchasing an additional 285,215 shares during the period. Institutional investors own 54.63% of the company’s stock.

About International Tower Hill Mines

International Tower Hill Mines Ltd. is a mineral exploration and development company focused on advancing gold properties in Alaska. The company’s principal asset is the Livengood Gold Project, located approximately 70 miles northwest of Fairbanks in the Tintina Gold Belt.

The Livengood project centers on the Money Knob deposit, a large, low-grade gold system that the company is evaluating for potential development using conventional open-pit mining and processing methods. International Tower Hill Mines’ activities include exploration, resource evaluation, engineering studies, permitting, and other technical work intended to assess the project’s economic and development potential.

The company has historically focused its operations on Alaska and does not currently operate producing mines.