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

International Tower Hill Mines Ltd. (NYSE:THM)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $2.14, but opened at $2.01. International Tower Hill Mines shares last traded at $2.0850, with a volume of 108,938 shares changing hands.

International Tower Hill Mines Trading Down 3.5%

The stock has a market cap of $540.28 million, a PE ratio of -103.25 and a beta of 0.94. The business’s 50-day moving average price is $2.25 and its 200-day moving average price is $2.43.

Hedge Funds Weigh In On International Tower Hill Mines

Several hedge funds and other institutional investors have recently modified their holdings of THM. Ketron Financial purchased a new stake in International Tower Hill Mines during the 4th quarter worth approximately $28,000. Tudor Investment Corp ET AL acquired a new stake in shares of International Tower Hill Mines during the fourth quarter worth $41,000. StoneX Group Inc. lifted its stake in shares of International Tower Hill Mines by 43.3% during the fourth quarter. StoneX Group Inc. now owns 27,389 shares of the company’s stock worth $51,000 after buying an additional 8,281 shares during the period. WINTON GROUP Ltd purchased a new stake in shares of International Tower Hill Mines during the fourth quarter valued at $68,000. Finally, Marshall Wace LLP acquired a new position in shares of International Tower Hill Mines in the 2nd quarter valued at $32,000. 54.63% of the stock is owned by hedge funds and other institutional investors.

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.