International Tower Hill Mines (NYSE:THM) Shares Down 5.6% – Here’s Why

Shares of International Tower Hill Mines Ltd. (NYSE:THM) fell 5.6% during mid-day trading on Monday . The company traded as low as $2.46 and last traded at $2.4550. Approximately 262,271 shares were traded during mid-day trading, a decline of 81% from the average session volume of 1,409,677 shares. The stock had previously closed at $2.60.

International Tower Hill Mines Price Performance

The company has a 50-day moving average price of $2.27 and a 200 day moving average price of $2.43. The firm has a market capitalization of $643.63 million, a PE ratio of -123.00 and a beta of 0.96.

Institutional Investors Weigh In On International Tower Hill Mines

Several large investors have recently added to or reduced their stakes in THM. Paulson & CO. Inc. raised its holdings in International Tower Hill Mines by 41.8% during the 1st quarter. Paulson & CO. Inc. now owns 99,573,038 shares of the company’s stock valued at $229,018,000 after buying an additional 29,333,650 shares during the period. Kopernik Global Investors LLC boosted its stake 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 worth $40,596,000 after buying an additional 3,202,014 shares during the period. Electrum Group LLC purchased a new position in International Tower Hill Mines during the second quarter worth $63,518,462. Connor Clark & Lunn Investment Management Ltd. bought a new position in International Tower Hill Mines during the second quarter valued at $1,138,000. Finally, Corient Private Wealth LP bought a new position in International Tower Hill Mines during the second quarter valued at $25,000. 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.