International Tower Hill Mines (NYSE:THM) Shares Gap Up – What’s Next?

International Tower Hill Mines Ltd. (NYSE:THM) shares gapped up prior to trading on Monday . The stock had previously closed at $2.09, but opened at $2.28. International Tower Hill Mines shares last traded at $2.3050, with a volume of 179,553 shares.

International Tower Hill Mines Stock Up 7.9%

The stock has a market capitalization of $589.99 million, a price-to-earnings ratio of -113.25 and a beta of 0.88. The business has a 50-day simple moving average of $2.46 and a two-hundred day simple moving average of $2.38.

Insiders Place Their Bets

In other news, major shareholder Paulson & Co. Inc. bought 4,913,665 shares of the business’s stock in a transaction 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 completion of the transaction, the insider directly owned 104,486,703 shares of the company’s stock, valued at approximately $267,485,959.68. This trade represents a 4.93% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On International Tower Hill Mines

Institutional investors have recently added to or reduced their stakes in the company. Ketron Financial acquired a new stake in shares of International Tower Hill Mines during the 4th quarter valued at $28,000. Marshall Wace LLP bought a new stake in shares of International Tower Hill Mines during the 2nd quarter worth $32,000. Tudor Investment Corp ET AL bought a new stake in shares of International Tower Hill Mines during the 4th quarter worth $41,000. XTX Topco Ltd boosted its stake in shares of International Tower Hill Mines by 97.7% during the 2nd quarter. XTX Topco Ltd now owns 59,074 shares of the company’s stock worth $51,000 after acquiring an additional 29,186 shares in the last quarter. Finally, StoneX Group Inc. boosted its stake in shares of International Tower Hill Mines by 43.3% during the 4th quarter. StoneX Group Inc. now owns 27,389 shares of the company’s stock worth $51,000 after acquiring an additional 8,281 shares in the last quarter. 54.63% of the stock is currently owned by institutional investors and hedge funds.

International Tower Hill Mines Company Profile

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.