International Tower Hill Mines (NYSE:THM) Shares Gap Down – Here’s Why

International Tower Hill Mines Ltd. (NYSE:THM) shares gapped down prior to trading on Friday . The stock had previously closed at $2.44, but opened at $2.35. International Tower Hill Mines shares last traded at $2.4650, with a volume of 5,400,875 shares traded.

International Tower Hill Mines Stock Performance

The business’s 50-day moving average is $1.97 and its 200 day moving average is $1.68. The company has a market cap of $528.03 million, a PE ratio of -127.00 and a beta of 0.71.

Institutional Trading of International Tower Hill Mines

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. CWA Asset Management Group LLC boosted its holdings in shares of International Tower Hill Mines by 27.1% during the 4th quarter. CWA Asset Management Group LLC now owns 128,635 shares of the company’s stock valued at $239,000 after buying an additional 27,394 shares in the last quarter. Citadel Advisors LLC lifted its position 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 valued at $360,000 after acquiring an additional 202,922 shares during the period. Captrust Financial Advisors bought a new stake in International Tower Hill Mines during the second quarter worth about $69,000. Jane Street Group LLC purchased a new stake in International Tower Hill Mines in the second quarter worth about $77,000. Finally, Marshall Wace LLP bought a new position in shares of International Tower Hill Mines during the second quarter valued at approximately $32,000. 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.