International Tower Hill Mines (NYSE:THM) Stock Price Down 3% – Here’s Why

International Tower Hill Mines Ltd. (NYSE:THM)’s share price traded down 3% on Monday . The company traded as low as $1.59 and last traded at $1.61. 547,308 shares changed hands during mid-day trading, an increase of 6% from the average session volume of 518,135 shares. The stock had previously closed at $1.66.

International Tower Hill Mines Stock Up 1.9%

The stock has a fifty day moving average of $1.78 and a two-hundred day moving average of $1.31. The stock has a market cap of $336.77 million, a price-to-earnings ratio of -81.00 and a beta of 0.59.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Virtu Financial LLC boosted its position in shares of International Tower Hill Mines by 199.7% in the 1st quarter. Virtu Financial LLC now owns 85,261 shares of the company’s stock worth $54,000 after buying an additional 56,814 shares in the last quarter. Paulson & CO. Inc. raised its position in International Tower Hill Mines by 9.4% during the first quarter. Paulson & CO. Inc. now owns 70,239,388 shares of the company’s stock worth $44,391,000 after acquiring an additional 6,040,408 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of International Tower Hill Mines by 589.1% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 120,600 shares of the company’s stock valued at $104,000 after purchasing an additional 103,100 shares in the last quarter. XTX Topco Ltd grew its position in shares of International Tower Hill Mines by 97.7% in the second quarter. XTX Topco Ltd now owns 59,074 shares of the company’s stock valued at $51,000 after purchasing an additional 29,186 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of International Tower Hill Mines during the 2nd quarter worth approximately $32,000. Hedge funds and other institutional investors own 54.63% of the company’s stock.

About International Tower Hill Mines

International Tower Hill Mines Ltd. is a Canada-based resource exploration company possessing a portfolio of Alaskan and Nevada based gold and base metal exploration projects. The Company is currently focused on the Livengood Gold Project located in the north of Fairbanks, Alaska. International Tower Hill Mines Ltd.