International Tower Hill Mines (NYSE:THM) Shares Gap Up – Time to Buy?

Shares of International Tower Hill Mines Ltd. (NYSE:THM) gapped up prior to trading on Monday . The stock had previously closed at $2.54, but opened at $2.88. International Tower Hill Mines shares last traded at $2.6440, with a volume of 732,726 shares trading hands.

International Tower Hill Mines Price Performance

The company has a market cap of $502.04 million, a PE ratio of -121.50 and a beta of 0.71. The stock’s 50-day moving average is $1.97 and its 200 day moving average is $1.69.

Institutional Trading of International Tower Hill Mines

Several large investors have recently added to or reduced their stakes in the company. Marshall Wace LLP purchased a new stake in International Tower Hill Mines in the second quarter valued at approximately $32,000. XTX Topco Ltd increased its holdings 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 valued at $51,000 after buying an additional 29,186 shares in the last quarter. Captrust Financial Advisors acquired a new position in International Tower Hill Mines in the 2nd quarter worth about $69,000. Jane Street Group LLC purchased a new position in shares of International Tower Hill Mines during the 2nd quarter valued at approximately $77,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of International Tower Hill Mines by 589.1% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 120,600 shares of the company’s stock worth $104,000 after purchasing an additional 103,100 shares in the last quarter. Hedge funds and other 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.