International Tower Hill Mines (NYSE:THM) Trading Down 4% – Here’s Why

International Tower Hill Mines Ltd. (NYSE:THM)’s share price traded down 4% during mid-day trading on Monday . The stock traded as low as $2.47 and last traded at $2.4950. 187,608 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 1,850,125 shares. The stock had previously closed at $2.60.

International Tower Hill Mines Stock Down 4.0%

The firm has a fifty day moving average of $2.60 and a 200-day moving average of $2.19. The firm has a market cap of $518.67 million, a P/E ratio of -125.00 and a beta of 0.88.

Insider Activity

In other news, major shareholder Paulson & Co. Inc. purchased 18,018,018 shares of the firm’s stock in a transaction that occurred on Tuesday, January 27th. The shares were acquired at an average price of $2.22 per share, for a total transaction of $39,999,999.96. Following the completion of the acquisition, the insider directly owned 88,257,406 shares in the company, valued at approximately $195,931,441.32. The trade was a 25.65% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Global Holdings L.P. Electrum bought 3,153,153 shares of International Tower Hill Mines stock in a transaction on Tuesday, January 27th. The shares were bought at an average price of $2.22 per share, for a total transaction of $6,999,999.66. Following the acquisition, the insider owned 3,153,153 shares of the company’s stock, valued at approximately $6,999,999.66. The trade was a ? increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders purchased 32,486,803 shares of company stock worth $72,120,703. 2.48% of the stock is owned by company insiders.

Institutional Investors Weigh In On International Tower Hill Mines

A number of hedge funds have recently modified their holdings of THM. Ketron Financial acquired a new stake in shares of International Tower Hill Mines during the fourth quarter worth about $28,000. Marshall Wace LLP acquired a new stake in shares of International Tower Hill Mines during the second quarter worth about $32,000. Tudor Investment Corp ET AL acquired a new stake in shares of International Tower Hill Mines during the fourth quarter worth about $41,000. XTX Topco Ltd raised its position in shares of International Tower Hill Mines by 97.7% during the second quarter. XTX Topco Ltd now owns 59,074 shares of the company’s stock worth $51,000 after purchasing an additional 29,186 shares during the period. Finally, StoneX Group Inc. raised its position in shares of International Tower Hill Mines by 43.3% during the fourth quarter. StoneX Group Inc. now owns 27,389 shares of the company’s stock worth $51,000 after purchasing an additional 8,281 shares during the period. Institutional investors and hedge funds 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.