International Tower Hill Mines (NYSE:THM) Shares Gap Down – Time to Sell?

International Tower Hill Mines Ltd. (NYSE:THM)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $2.05, but opened at $1.91. International Tower Hill Mines shares last traded at $1.9750, with a volume of 136,366 shares changing hands.

International Tower Hill Mines Stock Performance

The company’s 50-day moving average is $2.40 and its 200-day moving average is $2.41. The firm has a market cap of $512.81 million, a price-to-earnings ratio of -98.00 and a beta of 0.88.

Insider Activity at International Tower Hill Mines

In other news, major shareholder Paulson & Co. Inc. bought 4,913,665 shares of the company’s 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 transaction, the insider directly owned 104,486,703 shares in the company, valued at $267,485,959.68. The trade was a 4.93% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 2.10% of the company’s stock.

Institutional Trading of International Tower Hill Mines

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ketron Financial bought a new stake in International Tower Hill Mines during the 4th quarter worth about $28,000. Marshall Wace LLP bought a new position in shares of International Tower Hill Mines in the 2nd quarter valued at about $32,000. Tudor Investment Corp ET AL acquired a new stake in shares of International Tower Hill Mines during the 4th quarter worth approximately $41,000. XTX Topco Ltd grew its position in shares of International Tower Hill Mines by 97.7% during the 2nd quarter. XTX Topco Ltd now owns 59,074 shares of the company’s stock worth $51,000 after buying an additional 29,186 shares during the period. Finally, StoneX Group Inc. raised its stake in shares of International Tower Hill Mines by 43.3% during the fourth quarter. StoneX Group Inc. now owns 27,389 shares of the company’s stock worth $51,000 after buying an additional 8,281 shares during the last quarter. 54.63% of the stock is currently owned by institutional investors and hedge funds.

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.