International Tower Hill Mines (NYSE:THM) Shares Gap Down – Time to Sell?

International Tower Hill Mines Ltd. (NYSE:THM) shares gapped down before the market opened on Wednesday . The stock had previously closed at $2.05, but opened at $1.91. International Tower Hill Mines shares last traded at $1.9750, with a volume of 136,366 shares trading hands.

International Tower Hill Mines Price Performance

The firm has a market capitalization of $506.27 million, a price-to-earnings ratio of -97.25 and a beta of 0.88. The business has a 50 day moving average of $2.42 and a 200 day moving average of $2.40.

Insider Activity at International Tower Hill Mines

In other International Tower Hill Mines news, major shareholder Paulson & Co. Inc. acquired 4,913,665 shares of International Tower Hill Mines stock in a transaction dated Thursday, April 16th. The stock was bought at an average cost of $2.56 per share, with a total value of $12,578,982.40. Following the acquisition, the insider owned 104,486,703 shares of the company’s stock, valued at approximately $267,485,959.68. The trade was a 4.93% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Ketron Financial bought a new position in International Tower Hill Mines during the fourth quarter worth about $28,000. Tudor Investment Corp ET AL bought a new stake in shares of International Tower Hill Mines in the 4th quarter valued at approximately $41,000. StoneX Group Inc. grew its stake in shares of International Tower Hill Mines by 43.3% in the 4th quarter. StoneX Group Inc. now owns 27,389 shares of the company’s stock valued at $51,000 after purchasing an additional 8,281 shares during the period. WINTON GROUP Ltd acquired a new position in shares of International Tower Hill Mines in the 4th quarter worth approximately $68,000. Finally, Marshall Wace LLP acquired a new position in shares of International Tower Hill Mines in the 2nd quarter worth approximately $32,000. Institutional investors and hedge funds 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.