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

International Tower Hill Mines Ltd. (NYSE:THM)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $2.06, but opened at $1.94. International Tower Hill Mines shares last traded at $2.0250, with a volume of 190,991 shares changing hands.

International Tower Hill Mines Price Performance

The company has a market capitalization of $536.36 million, a price-to-earnings ratio of -102.50 and a beta of 0.88. The stock has a fifty day simple moving average of $2.46 and a 200-day simple moving average of $2.38.

Insider Activity

In other International Tower Hill Mines news, major shareholder Paulson & Co. Inc. bought 4,913,665 shares of the firm’s stock in a transaction dated Thursday, April 16th. The shares were purchased at an average price of $2.56 per share, for a total transaction of $12,578,982.40. Following the transaction, the insider directly owned 104,486,703 shares of the company’s stock, valued at approximately $267,485,959.68. This represents a 4.93% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in THM. Ketron Financial purchased a new stake in shares of International Tower Hill Mines during the fourth quarter worth approximately $28,000. Marshall Wace LLP purchased a new stake in shares of International Tower Hill Mines during the second quarter worth approximately $32,000. Tudor Investment Corp ET AL purchased a new stake in shares of International Tower Hill Mines during the fourth quarter worth approximately $41,000. XTX Topco Ltd increased its position in shares of International Tower Hill Mines by 97.7% during the second quarter. XTX Topco Ltd now owns 59,074 shares of the company’s stock worth $51,000 after purchasing an additional 29,186 shares in the last quarter. Finally, StoneX Group Inc. increased its position 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 purchasing an additional 8,281 shares in the last quarter. Hedge funds and other institutional investors 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.