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

International Tower Hill Mines Ltd. (NYSE:THM)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $2.60, but opened at $2.80. International Tower Hill Mines shares last traded at $2.6410, with a volume of 166,410 shares changing hands.

International Tower Hill Mines Stock Up 12.2%

The company has a fifty day moving average of $2.39 and a 200 day moving average of $2.38. The company has a market cap of $772.49 million, a P/E ratio of -147.50 and a beta of 1.04.

Institutional Trading of International Tower Hill Mines

A number of hedge funds have recently modified their holdings of THM. Paulson & CO. Inc. purchased a new stake in shares of International Tower Hill Mines in the second quarter valued at about $207,929,000. Kopernik Global Investors LLC increased its holdings 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 during the last quarter. Electrum Group LLC acquired a new stake in shares of International Tower Hill Mines in the second quarter valued at $63,518,462. Connor Clark & Lunn Investment Management Ltd. acquired a new position in International Tower Hill Mines in the 2nd quarter valued at about $1,138,000. Finally, Bank of America Corp DE grew its holdings in shares of International Tower Hill Mines by 57,043.0% in the first quarter. Bank of America Corp DE now owns 285,715 shares of the company’s stock valued at $657,000 after purchasing an additional 285,215 shares in the last quarter. 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 mineral exploration and development company focused on advancing gold properties in Alaska. The company’s principal asset is the Livengood Gold Project, located approximately 70 miles northwest of Fairbanks in the Tintina Gold Belt.

The Livengood project centers on the Money Knob deposit, a large, low-grade gold system that the company is evaluating for potential development using conventional open-pit mining and processing methods. International Tower Hill Mines’ activities include exploration, resource evaluation, engineering studies, permitting, and other technical work intended to assess the project’s economic and development potential.

The company has historically focused its operations on Alaska and does not currently operate producing mines.