International Tower Hill Mines (NYSE:THM) Stock Falls 7.3% – Should You Sell?

International Tower Hill Mines Ltd. (NYSE:THM)’s stock price traded down 7.3% during trading on Wednesday. The stock traded as low as $2.73 and last traded at $2.7350. 130,821 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 1,358,501 shares. The stock had previously closed at $2.95.

International Tower Hill Mines Price Performance

The company has a market capitalization of $735.83 million, a PE ratio of -140.50 and a beta of 1.04. The company has a 50-day moving average of $2.42 and a two-hundred day moving average of $2.38.

Institutional Trading of International Tower Hill Mines

A number of hedge funds and other institutional investors have recently modified their holdings of THM. Paulson & CO. Inc. bought a new position in International Tower Hill Mines in the 2nd quarter worth $207,929,000. Kopernik Global Investors LLC raised its holdings 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 during the period. Electrum Group LLC bought a new stake in International Tower Hill Mines during the second quarter valued at about $63,518,462. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of International Tower Hill Mines in the second 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 first 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 in 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. 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.