International Tower Hill Mines (NYSE:THM) Shares Up 10.3% – Should You Buy?

Shares of International Tower Hill Mines Ltd. (NYSE:THM) shot up 10.3% during mid-day trading on Tuesday . The company traded as high as $2.30 and last traded at $2.2950. 119,785 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 1,487,315 shares. The stock had previously closed at $2.08.

International Tower Hill Mines Price Performance

The stock has a market capitalization of $584.76 million, a P/E ratio of -112.25 and a beta of 0.94. The firm’s 50 day moving average price is $2.32 and its 200 day moving average price is $2.42.

Insiders Place Their Bets

In other International Tower Hill Mines news, major shareholder Paulson & Co. Inc. acquired 4,913,665 shares of the company’s stock in a transaction on Thursday, April 16th. The stock was acquired at an average price of $2.56 per share, for a total transaction of $12,578,982.40. Following the acquisition, the insider owned 104,486,703 shares in the company, valued at $267,485,959.68. This represents a 4.93% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On International Tower Hill Mines

A number of hedge funds and other institutional investors have recently made changes to their positions in THM. XTX Topco Ltd lifted its stake in International Tower Hill Mines by 97.7% in the second quarter. XTX Topco Ltd now owns 59,074 shares of the company’s stock worth $51,000 after acquiring an additional 29,186 shares during the period. Marshall Wace LLP purchased a new position in International Tower Hill Mines during the 2nd quarter valued at $32,000. Jane Street Group LLC bought a new position in International Tower Hill Mines in the 2nd quarter worth $77,000. Captrust Financial Advisors purchased a new stake in shares of International Tower Hill Mines in the 2nd quarter worth about $69,000. Finally, Citadel Advisors LLC lifted its position in shares of International Tower Hill Mines by 1,238.5% in the 3rd 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. Institutional investors own 54.63% of the company’s stock.

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.