International Tower Hill Mines (NYSE:THM) Trading Up 8% – Still a Buy?

International Tower Hill Mines Ltd. (NYSE:THM)’s share price was up 8% during trading on Thursday . The stock traded as high as $2.26 and last traded at $2.2350. Approximately 2,319,088 shares changed hands during trading, an increase of 53% from the average daily volume of 1,515,836 shares. The stock had previously closed at $2.07.

International Tower Hill Mines Trading Up 11.8%

The firm has a fifty day simple moving average of $2.36 and a two-hundred day simple moving average of $2.41. The stock has a market cap of $605.69 million, a PE ratio of -115.65 and a beta of 0.88.

Insider Buying and Selling

In related news, major shareholder Paulson & Co. Inc. purchased 4,913,665 shares of the firm’s stock in a transaction dated Thursday, April 16th. The shares were purchased at an average price of $2.56 per share, with a total value of $12,578,982.40. Following the acquisition, 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 ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. XTX Topco Ltd raised its position in International Tower Hill Mines by 97.7% during 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 in the last quarter. Marshall Wace LLP bought a new position in shares of International Tower Hill Mines during the 2nd quarter valued at about $32,000. Jane Street Group LLC bought a new position in shares of International Tower Hill Mines during the 2nd quarter valued at about $77,000. Captrust Financial Advisors purchased a new position in shares of International Tower Hill Mines during the 2nd quarter valued at about $69,000. Finally, Citadel Advisors LLC raised its holdings in shares of International Tower Hill Mines by 1,238.5% during the 3rd quarter. Citadel Advisors LLC now owns 219,307 shares of the company’s stock valued at $360,000 after buying an additional 202,922 shares in the last quarter. 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.