International Tower Hill Mines (NYSE:THM) Trading 10% Higher – Time to Buy?

International Tower Hill Mines Ltd. (NYSE:THM)’s stock price shot up 10% during trading on Wednesday . The company traded as high as $2.77 and last traded at $2.7940. Approximately 118,538 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 1,436,133 shares. The stock had previously closed at $2.54.

International Tower Hill Mines Price Performance

The firm’s 50 day moving average price is $2.17 and its two-hundred day moving average price is $2.42. The firm has a market cap of $739.12 million, a price-to-earnings ratio of -141.20 and a beta of 0.96.

Institutional Investors Weigh In On International Tower Hill Mines

Several institutional investors have recently made changes to their positions in THM. Paulson & CO. Inc. acquired a new position in shares of International Tower Hill Mines during the 2nd quarter worth $207,929,000. Electrum Group LLC acquired a new stake in shares of International Tower Hill Mines in the 2nd quarter worth approximately $63,518,462,000. Kopernik Global Investors LLC increased its stake in International Tower Hill Mines by 22.2% in the 1st quarter. Kopernik Global Investors LLC now owns 17,650,432 shares of the company’s stock valued at $40,596,000 after purchasing an additional 3,202,014 shares in the last quarter. Marshall Wace LLP increased its stake in International Tower Hill Mines by 151.3% in the 4th quarter. Marshall Wace LLP now owns 888,168 shares of the company’s stock valued at $1,652,000 after purchasing an additional 534,792 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in International Tower Hill Mines during the second quarter worth $1,138,000. 54.63% of the stock is currently owned by hedge funds and other institutional investors.

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.