International Tower Hill Mines (NYSE:THM) Shares Down 7.9% – Should You Sell?

International Tower Hill Mines Ltd. (NYSE:THM) shares fell 7.9% on Friday . The stock traded as low as $2.56 and last traded at $2.56. 511,824 shares traded hands during trading, a decline of 76% from the average session volume of 2,112,928 shares. The stock had previously closed at $2.78.

International Tower Hill Mines Price Performance

The stock’s 50-day moving average price is $2.63 and its 200 day moving average price is $2.07. The firm has a market cap of $527.61 million, a P/E ratio of -126.50 and a beta of 0.68.

Insider Buying and Selling at International Tower Hill Mines

In other news, major shareholder Global Holdings L.P. Electrum acquired 3,153,153 shares of the stock in a transaction dated Tuesday, January 27th. The shares were bought at an average cost of $2.22 per share, for a total transaction of $6,999,999.66. Following the purchase, the insider directly owned 3,153,153 shares of the company’s stock, valued at approximately $6,999,999.66. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Paulson & Co. Inc. bought 18,018,018 shares of the business’s stock in a transaction that occurred on Tuesday, January 27th. The stock was purchased at an average price of $2.22 per share, with a total value of $39,999,999.96. Following the completion of the purchase, the insider directly owned 88,257,406 shares in the company, valued at $195,931,441.32. The trade was a 25.65% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased 32,486,803 shares of company stock valued at $72,120,703 over the last three months. 2.48% of the stock is owned by company insiders.

Institutional Trading of International Tower Hill Mines

Hedge funds have recently made changes to their positions in the business. Electrum Group LLC bought a new position in shares of International Tower Hill Mines during the 4th quarter worth approximately $53,504,000. Marshall Wace LLP lifted its holdings in International Tower Hill Mines by 151.3% during the 4th quarter. Marshall Wace LLP now owns 888,168 shares of the company’s stock valued at $1,652,000 after purchasing an additional 534,792 shares during the last quarter. Citadel Advisors LLC boosted its position in International Tower Hill Mines by 1,238.5% during 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. Lombard Odier Asset Management USA Corp acquired a new position in shares of International Tower Hill Mines in the fourth quarter valued at $324,000. Finally, CWA Asset Management Group LLC increased its holdings in shares of International Tower Hill Mines by 27.1% in the fourth quarter. CWA Asset Management Group LLC now owns 128,635 shares of the company’s stock valued at $239,000 after purchasing an additional 27,394 shares during the last quarter. 54.63% of the stock is owned by institutional investors and hedge funds.

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.