International Tower Hill Mines (NYSE:THM) Reaches New 12-Month High Following Insider Buying Activity

International Tower Hill Mines Ltd. (NYSE:THM)’s share price reached a new 52-week high during mid-day trading on Wednesday after an insider bought additional shares in the company. The stock traded as high as $3.65 and last traded at $3.0290, with a volume of 3213339 shares changing hands. The stock had previously closed at $2.87.

Specifically, major shareholder Paulson & Co. Inc. bought 18,018,018 shares of International Tower Hill Mines stock in a transaction dated Tuesday, January 27th. The stock was purchased at an average price of $2.22 per share, for a total transaction of $39,999,999.96. Following the completion of the purchase, the insider directly owned 88,257,406 shares of the company’s stock, valued at approximately $195,931,441.32. This trade represents a 25.65% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.

International Tower Hill Mines Stock Performance

The firm has a market cap of $618.87 million, a P/E ratio of -148.25 and a beta of 0.71. The firm has a 50 day simple moving average of $2.01 and a 200 day simple moving average of $1.71.

Institutional Investors Weigh In On International Tower Hill Mines

A number of institutional investors and hedge funds have recently bought and sold shares of THM. Marshall Wace LLP bought a new position in shares of International Tower Hill Mines in the 2nd quarter worth $32,000. XTX Topco Ltd grew 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 acquiring an additional 29,186 shares during the last quarter. Captrust Financial Advisors bought a new position in International Tower Hill Mines during the second quarter valued at approximately $69,000. Jane Street Group LLC purchased a new position in shares of International Tower Hill Mines during the second quarter worth approximately $77,000. Finally, CWA Asset Management Group LLC lifted its holdings in shares of International Tower Hill Mines by 912.4% in the 3rd quarter. CWA Asset Management Group LLC now owns 101,241 shares of the company’s stock worth $166,000 after acquiring an additional 91,241 shares during the last quarter. 54.63% of the stock is owned by hedge funds and other institutional investors.

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.