International Tower Hill Mines (NYSE:THM) Trading Up 5.9% – Time to Buy?

International Tower Hill Mines Ltd. (NYSE:THM)’s stock price shot up 5.9% during mid-day trading on Friday . The company traded as high as $2.11 and last traded at $2.0760. Approximately 277,820 shares were traded during trading, a decline of 81% from the average daily volume of 1,492,676 shares. The stock had previously closed at $1.96.

International Tower Hill Mines Stock Up 10.5%

The stock has a market cap of $566.44 million, a PE ratio of -107.25 and a beta of 0.88. The company’s fifty day moving average is $2.40 and its 200 day moving average is $2.41.

Insiders Place Their Bets

In other International Tower Hill Mines news, major shareholder Paulson & Co. Inc. purchased 4,913,665 shares of the firm’s stock in a transaction that occurred on Thursday, April 16th. The stock was purchased at an average cost of $2.56 per share, with a total value of $12,578,982.40. Following the transaction, the insider owned 104,486,703 shares in the company, valued at approximately $267,485,959.68. This trade represents a 4.93% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On International Tower Hill Mines

Several institutional investors and hedge funds have recently modified their holdings of THM. XTX Topco Ltd grew its stake in shares of International Tower Hill Mines by 97.7% in the second quarter. XTX Topco Ltd now owns 59,074 shares of the company’s stock valued at $51,000 after buying an additional 29,186 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of International Tower Hill Mines during the 2nd quarter valued at about $32,000. Jane Street Group LLC acquired a new position in International Tower Hill Mines during the 2nd quarter worth approximately $77,000. Captrust Financial Advisors purchased a new position in International Tower Hill Mines in the 2nd quarter worth approximately $69,000. Finally, Citadel Advisors LLC grew its position in International Tower Hill Mines by 1,238.5% in the third quarter. Citadel Advisors LLC now owns 219,307 shares of the company’s stock valued at $360,000 after acquiring an additional 202,922 shares in the last quarter. 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.