International Tower Hill Mines (NYSE:THM) Stock Price Up 5.6% – Here’s What Happened
by Renee Jackson · The Cerbat GemShares of International Tower Hill Mines Ltd. (NYSE:THM – Get Free Report) rose 5.6% during trading on Wednesday . The stock traded as high as $2.58 and last traded at $2.46. Approximately 1,370,474 shares changed hands during mid-day trading, a decline of 28% from the average daily volume of 1,904,271 shares. The stock had previously closed at $2.33.
International Tower Hill Mines Price Performance
The company’s fifty day moving average price is $2.60 and its 200 day moving average price is $2.18. The company has a market cap of $540.50 million, a PE ratio of -130.00 and a beta of 0.88.
Insider Transactions at International Tower Hill Mines
In related news, major shareholder Paulson & Co. Inc. acquired 1,501,982 shares of the firm’s stock in a transaction that occurred on Thursday, January 29th. The stock was acquired at an average price of $2.22 per share, for a total transaction of $3,334,400.04. Following the completion of the acquisition, the insider owned 99,573,038 shares of the company’s stock, valued at approximately $221,052,144.36. This represents a 1.53% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Global Holdings L.P. Electrum acquired 3,153,153 shares of the firm’s 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 acquisition, the insider directly owned 3,153,153 shares of the company’s stock, valued at $6,999,999.66. The trade was a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 32,486,803 shares of company stock valued at $72,120,703 in the last 90 days. 2.46% of the stock is currently owned by corporate insiders.
Institutional Trading of International Tower Hill Mines
Large investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd increased its stake in shares of International Tower Hill Mines by 26.5% in the fourth quarter. XTX Topco Ltd now owns 96,539 shares of the company’s stock worth $180,000 after purchasing an additional 20,208 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of International Tower Hill Mines in the second quarter worth about $77,000. HighTower Advisors LLC purchased a new position in shares of International Tower Hill Mines in the fourth quarter worth about $74,000. Captrust Financial Advisors purchased a new position in shares of International Tower Hill Mines in the second quarter worth about $69,000. Finally, WINTON GROUP Ltd purchased a new position in shares of International Tower Hill Mines in the fourth quarter worth about $68,000. Hedge funds and other institutional investors own 54.63% of the company’s stock.
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.