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

International Tower Hill Mines Ltd. (NYSE:THM)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $2.14, but opened at $2.01. International Tower Hill Mines shares last traded at $2.0850, with a volume of 108,938 shares trading hands.

International Tower Hill Mines Stock Down 3.5%

The stock has a 50-day moving average of $2.25 and a 200 day moving average of $2.43. The stock has a market cap of $540.28 million, a PE ratio of -103.25 and a beta of 0.94.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of THM. XTX Topco Ltd increased its holdings 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 valued at $51,000 after purchasing an additional 29,186 shares in the last quarter. Marshall Wace LLP acquired a new position in International Tower Hill Mines in the 2nd quarter valued at $32,000. Jane Street Group LLC purchased a new position in International Tower Hill Mines in the 2nd quarter valued at $77,000. Captrust Financial Advisors purchased a new position in International Tower Hill Mines in the 2nd quarter valued at $69,000. Finally, Citadel Advisors LLC boosted its stake in International Tower Hill Mines by 1,238.5% during the 3rd quarter. Citadel Advisors LLC now owns 219,307 shares of the company’s stock worth $360,000 after purchasing an additional 202,922 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.