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

Shares of International Tower Hill Mines Ltd. (NYSE:THM) gapped down prior to trading on Wednesday . The stock had previously closed at $2.06, but opened at $1.94. International Tower Hill Mines shares last traded at $2.0250, with a volume of 190,991 shares.

International Tower Hill Mines Trading Down 5.6%

The company has a market cap of $508.88 million, a PE ratio of -97.25 and a beta of 0.88. The company’s 50 day moving average is $2.47 and its 200 day moving average is $2.37.

Insider Buying and Selling

In related news, major shareholder Paulson & Co. Inc. purchased 4,913,665 shares of International Tower Hill Mines stock in a transaction that occurred on Thursday, April 16th. The shares were bought at an average price of $2.56 per share, with a total value of $12,578,982.40. Following the purchase, the insider directly owned 104,486,703 shares of the company’s stock, valued at approximately $267,485,959.68. This represents a 4.93% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ketron Financial bought a new position in International Tower Hill Mines during the 4th quarter worth about $28,000. Tudor Investment Corp ET AL bought a new position in International Tower Hill Mines during the 4th quarter worth about $41,000. StoneX Group Inc. grew its holdings in International Tower Hill Mines by 43.3% during the 4th quarter. StoneX Group Inc. now owns 27,389 shares of the company’s stock worth $51,000 after acquiring an additional 8,281 shares in the last quarter. WINTON GROUP Ltd bought a new position in International Tower Hill Mines during the 4th quarter worth about $68,000. Finally, Marshall Wace LLP bought a new position in International Tower Hill Mines during the 2nd quarter worth about $32,000. 54.63% of the stock is currently owned by 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.