International Tower Hill Mines (NYSE:THM) Trading Up 8% – Here’s Why

International Tower Hill Mines Ltd. (NYSE:THM) was up 8% during trading on Thursday . The company traded as high as $2.26 and last traded at $2.2350. 2,319,088 shares were traded during trading, an increase of 53% from the average session volume of 1,515,836 shares. The stock had previously closed at $2.07.

International Tower Hill Mines Price Performance

The stock has a market capitalization of $605.69 million, a PE ratio of -115.65 and a beta of 0.88. The firm’s 50 day simple moving average is $2.36 and its 200 day simple moving average is $2.41.

Insiders Place Their Bets

In other International Tower Hill Mines news, major shareholder Paulson & Co. Inc. purchased 4,913,665 shares of the stock in a transaction on Thursday, April 16th. The stock was acquired at an average cost of $2.56 per share, with a total value of $12,578,982.40. Following the completion of the purchase, 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 document filed with the SEC, which is available at this hyperlink. 2.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of THM. Ketron Financial purchased a new position in shares of International Tower Hill Mines in the fourth quarter worth about $28,000. Marshall Wace LLP bought a new position in International Tower Hill Mines during the 2nd quarter worth approximately $32,000. Tudor Investment Corp ET AL bought a new position in International Tower Hill Mines during the 4th quarter worth approximately $41,000. XTX Topco Ltd increased its stake in International Tower Hill Mines by 97.7% in the 2nd quarter. XTX Topco Ltd now owns 59,074 shares of the company’s stock worth $51,000 after purchasing an additional 29,186 shares during the period. Finally, StoneX Group Inc. increased its stake in International Tower Hill Mines by 43.3% in the 4th quarter. StoneX Group Inc. now owns 27,389 shares of the company’s stock worth $51,000 after purchasing an additional 8,281 shares during the period. 54.63% of the stock is owned by institutional investors.

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.