International Tower Hill Mines (NYSE:THM) Trading Down 7.9% – Here’s What Happened

International Tower Hill Mines Ltd. (NYSE:THM) shares were down 7.9% during mid-day trading on Friday . The stock traded as low as $2.56 and last traded at $2.56. Approximately 511,824 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 2,112,928 shares. The stock had previously closed at $2.78.

International Tower Hill Mines Trading Down 8.7%

The stock has a market cap of $527.61 million, a P/E ratio of -126.50 and a beta of 0.68. The firm has a 50-day simple moving average of $2.63 and a two-hundred day simple moving average of $2.07.

Insider Activity at International Tower Hill Mines

In other International Tower Hill Mines news, major shareholder Paulson & Co. Inc. purchased 18,018,018 shares of the company’s stock in a transaction dated Tuesday, January 27th. The stock was bought at an average cost of $2.22 per share, for a total transaction of $39,999,999.96. Following the completion of the transaction, the insider owned 88,257,406 shares in the company, valued at approximately $195,931,441.32. This represents a 25.65% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Global Holdings L.P. Electrum purchased 3,153,153 shares of the business’s stock in a transaction that occurred on Tuesday, January 27th. The stock was bought at an average price of $2.22 per share, with a total value of $6,999,999.66. Following the completion of the purchase, the insider owned 3,153,153 shares of the company’s stock, valued at $6,999,999.66. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought 32,486,803 shares of company stock worth $72,120,703 over the last ninety days. Insiders own 2.48% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ketron Financial bought a new stake in International Tower Hill Mines during the fourth quarter worth about $28,000. Tudor Investment Corp ET AL acquired a new position in shares of International Tower Hill Mines in the 4th quarter valued at approximately $41,000. StoneX Group Inc. lifted its holdings in shares of International Tower Hill Mines by 43.3% during the 4th quarter. StoneX Group Inc. now owns 27,389 shares of the company’s stock worth $51,000 after acquiring an additional 8,281 shares during the period. WINTON GROUP Ltd acquired a new stake in shares of International Tower Hill Mines during the 4th quarter worth approximately $68,000. Finally, Marshall Wace LLP bought a new position in International Tower Hill Mines in the second quarter valued at approximately $32,000. Institutional investors and hedge funds own 54.63% of the company’s stock.

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.