International Tower Hill Mines (NYSE:THM) Shares Gap Up – Here’s What Happened

International Tower Hill Mines Ltd. (NYSE:THM)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $2.26, but opened at $2.50. International Tower Hill Mines shares last traded at $2.4960, with a volume of 402,266 shares changing hands.

International Tower Hill Mines Trading Down 0.4%

The company has a fifty day moving average price of $2.57 and a two-hundred day moving average price of $2.25. The firm has a market capitalization of $663.14 million, a PE ratio of -127.00 and a beta of 0.85.

Insider Buying and Selling at International Tower Hill Mines

In related news, major shareholder Paulson & Co. Inc. bought 4,913,665 shares of the stock in a transaction on Thursday, April 16th. The shares were bought at an average cost of $2.56 per share, for a total transaction of $12,578,982.40. Following the purchase, the insider owned 104,486,703 shares of the company’s stock, valued at $267,485,959.68. This trade represents a 4.93% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Electrum Group LLC purchased a new position in shares of International Tower Hill Mines in the 4th quarter valued at approximately $53,504,000. Marshall Wace LLP grew its stake in shares of International Tower Hill Mines by 151.3% in the 4th quarter. Marshall Wace LLP now owns 888,168 shares of the company’s stock valued at $1,652,000 after purchasing an additional 534,792 shares during the last quarter. Citadel Advisors LLC grew its stake in shares of International Tower Hill Mines by 1,238.5% in the 3rd quarter. Citadel Advisors LLC now owns 219,307 shares of the company’s stock valued at $360,000 after purchasing an additional 202,922 shares during the last quarter. Lombard Odier Asset Management USA Corp purchased a new position in shares of International Tower Hill Mines in the 4th quarter valued at approximately $324,000. Finally, CWA Asset Management Group LLC grew its stake in shares of International Tower Hill Mines by 27.1% in the 4th quarter. CWA Asset Management Group LLC now owns 128,635 shares of the company’s stock valued at $239,000 after purchasing an additional 27,394 shares during the last quarter. 54.63% of the stock is currently 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.