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

International Tower Hill Mines Ltd. (NYSE:THM) shares gapped up before the market opened on Monday . The stock had previously closed at $2.09, but opened at $2.28. International Tower Hill Mines shares last traded at $2.3050, with a volume of 179,553 shares traded.

International Tower Hill Mines Stock Performance

The firm has a market capitalization of $589.99 million, a P/E ratio of -113.25 and a beta of 0.88. The firm has a 50 day moving average price of $2.46 and a two-hundred day moving average price of $2.38.

Insider Activity

In other International Tower Hill Mines news, major shareholder Paulson & Co. Inc. bought 4,913,665 shares of International Tower Hill Mines stock in a transaction dated Thursday, April 16th. The stock was bought at an average price of $2.56 per share, for a total transaction of $12,578,982.40. Following the completion of the acquisition, the insider directly owned 104,486,703 shares of the company’s stock, valued at approximately $267,485,959.68. This trade represents a 4.93% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.10% of the stock is owned by insiders.

Institutional Trading of International Tower Hill Mines

Hedge funds have recently modified their holdings of the business. Electrum Group LLC purchased a new stake in shares of International Tower Hill Mines in the fourth quarter valued at $53,504,000. CWA Asset Management Group LLC lifted its holdings in shares of International Tower Hill Mines by 27.1% in the fourth 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 in the last quarter. XTX Topco Ltd lifted its holdings 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 purchasing an additional 29,186 shares in the last quarter. StoneX Group Inc. lifted its holdings in shares of International Tower Hill Mines by 43.3% in the fourth quarter. StoneX Group Inc. now owns 27,389 shares of the company’s stock valued at $51,000 after purchasing an additional 8,281 shares in the last quarter. Finally, Tudor Investment Corp ET AL purchased a new stake in shares of International Tower Hill Mines in the fourth quarter valued at $41,000. 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.