Electrum Group LLC Invests $53.50 Million in International Tower Hill Mines Ltd. $THM

Electrum Group LLC bought a new position in International Tower Hill Mines Ltd. (NYSE:THM) in the 4th quarter, Holdings Channel.com reports. The fund bought 28,765,672 shares of the company’s stock, valued at approximately $53,504,000. International Tower Hill Mines accounts for about 4.7% of Electrum Group LLC’s portfolio, making the stock its 3rd largest holding. Electrum Group LLC owned approximately 0.14% of International Tower Hill Mines as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. WINTON GROUP Ltd bought a new stake in shares of International Tower Hill Mines in the 4th quarter worth about $68,000. Marshall Wace LLP bought a new stake in shares of International Tower Hill Mines in the 2nd quarter worth about $32,000. HighTower Advisors LLC bought a new stake in shares of International Tower Hill Mines in the 4th quarter worth about $74,000. XTX Topco Ltd increased its position in shares of 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 purchasing an additional 29,186 shares during the last quarter. Finally, Captrust Financial Advisors bought a new stake in shares of International Tower Hill Mines in the 2nd quarter worth about $69,000. Institutional investors own 54.63% of the company’s stock.

International Tower Hill Mines Stock Down 2.8%

Shares of NYSE:THM opened at $2.06 on Wednesday. International Tower Hill Mines Ltd. has a fifty-two week low of $0.83 and a fifty-two week high of $3.65. The firm has a 50-day simple moving average of $2.47 and a 200 day simple moving average of $2.37. The company has a market cap of $538.97 million, a PE ratio of -103.00 and a beta of 0.88.

Insider Buying and Selling at International Tower Hill Mines

In other International Tower Hill Mines news, major shareholder Paulson & Co. Inc. acquired 4,913,665 shares of the stock in a transaction that occurred on Thursday, April 16th. The stock was acquired at an average price of $2.56 per share, with a total value of $12,578,982.40. Following the transaction, the insider directly owned 104,486,703 shares in the company, valued at approximately $267,485,959.68. This represents a 4.93% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.10% of the stock is currently owned by corporate insiders.

About International Tower Hill Mines

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.