International Tower Hill Mines (NYSE:THM) Trading Up 6.2% – Should You Buy?

International Tower Hill Mines Ltd. (NYSE:THM)’s stock price was up 6.2% on Monday . The stock traded as high as $2.86 and last traded at $2.8560. Approximately 493,579 shares traded hands during trading, a decline of 77% from the average daily volume of 2,164,908 shares. The stock had previously closed at $2.69.

International Tower Hill Mines Trading Up 7.2%

The firm has a market capitalization of $599.75 million, a P/E ratio of -144.20 and a beta of 0.71. The stock’s 50-day simple moving average is $2.30 and its 200-day simple moving average is $1.90.

Insiders Place Their Bets

In related news, major shareholder Paulson & Co. Inc. purchased 18,018,018 shares of the business’s stock in a transaction that occurred on Tuesday, January 27th. The shares were bought at an average cost of $2.22 per share, with a total value of $39,999,999.96. Following the acquisition, the insider owned 88,257,406 shares of the company’s stock, valued at $195,931,441.32. This represents a 25.65% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Global Holdings L.P. Electrum purchased 3,153,153 shares of International Tower Hill Mines stock in a transaction that occurred on Tuesday, January 27th. The shares were bought at an average price of $2.22 per share, with a total value of $6,999,999.66. Following the transaction, the insider owned 3,153,153 shares of the company’s stock, valued at $6,999,999.66. This trade represents a ? increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired a total of 32,486,803 shares of company stock valued at $72,120,703 in the last 90 days. Corporate insiders own 2.48% of the company’s stock.

Hedge Funds Weigh In On International Tower Hill Mines

Institutional investors have recently bought and sold shares of the company. Marshall Wace LLP purchased a new stake in International Tower Hill Mines in the second quarter worth $32,000. Tudor Investment Corp ET AL bought a new position in shares of International Tower Hill Mines during the 4th quarter worth $41,000. XTX Topco Ltd increased its holdings in International Tower Hill Mines by 97.7% in the 2nd quarter. XTX Topco Ltd now owns 59,074 shares of the company’s stock worth $51,000 after acquiring an additional 29,186 shares during the last quarter. StoneX Group Inc. raised its stake in International Tower Hill Mines by 43.3% in the 4th quarter. StoneX Group Inc. now owns 27,389 shares of the company’s stock valued at $51,000 after acquiring an additional 8,281 shares during the period. Finally, WINTON GROUP Ltd bought a new stake in International Tower Hill Mines in the 4th quarter valued at about $68,000. 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.