International Tower Hill Mines (NYSE:THM) Stock Falls 11.8% – Here’s Why

International Tower Hill Mines Ltd. (NYSE:THM)’s share price traded down 11.8% during mid-day trading on Wednesday. The stock traded as low as $2.01 and last traded at $1.9850. 521,233 shares changed hands during trading, a decline of 60% from the average daily volume of 1,294,531 shares. The stock had previously closed at $2.25.

International Tower Hill Mines Trading Down 10.9%

The stock has a market capitalization of $525.20 million, a PE ratio of -100.35 and a beta of 1.00. The company’s 50 day simple moving average is $2.55 and its 200 day simple moving average is $2.38.

Institutional Trading of International Tower Hill Mines

Institutional investors have recently added to or reduced their stakes in the business. Corient Private Wealth LP purchased a new stake in shares of International Tower Hill Mines in the second quarter worth about $25,000. Ketron Financial purchased a new stake in shares of International Tower Hill Mines during the 4th quarter valued at about $28,000. Two Sigma Securities LLC purchased a new stake in shares of International Tower Hill Mines during the 2nd quarter valued at about $40,000. TCI Wealth Advisors Inc. purchased a new stake in shares of International Tower Hill Mines during the 1st quarter valued at about $97,000. Finally, BlackRock Inc. acquired a new position in International Tower Hill Mines during the 2nd quarter worth approximately $96,000. 54.63% of the stock is owned by hedge funds and other institutional investors.

International Tower Hill Mines Company Profile

International Tower Hill Mines Ltd. is a Canadian mineral exploration and development company focused on advancing the Livengood Gold Project in Alaska. The company does not operate producing mines; its activities center on exploration, resource evaluation, technical studies, permitting and project development.

The Livengood Gold Project is located near Fairbanks, Alaska, and is wholly owned by International Tower Hill Mines. The project covers a large gold deposit and is being evaluated for potential development through additional engineering, economic analysis and environmental and permitting work.

International Tower Hill Mines trades on the NYSE American under the symbol THM and on the Toronto Stock Exchange under the same symbol.