International Tower Hill Mines (NYSE:THM) Shares Gap Up – Here’s What Happened

International Tower Hill Mines Ltd. (NYSE:THM)’s share price gapped up before the market opened on Monday . The stock had previously closed at $2.54, but opened at $2.88. International Tower Hill Mines shares last traded at $2.6440, with a volume of 732,726 shares traded.

International Tower Hill Mines Stock Up 7.3%

The firm has a market capitalization of $640.29 million, a P/E ratio of -154.00 and a beta of 0.71. The business’s 50 day moving average is $2.01 and its 200-day moving average is $1.71.

Insider Activity

In related news, major shareholder Paulson & Co. Inc. acquired 18,018,018 shares of the stock in a transaction that occurred on Tuesday, January 27th. The stock was acquired at an average cost of $2.22 per share, for a total transaction of $39,999,999.96. Following the transaction, the insider directly owned 88,257,406 shares in the company, valued at $195,931,441.32. This trade represents a 25.65% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.46% of the company’s stock.

Institutional Trading of International Tower Hill Mines

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. CWA Asset Management Group LLC grew its position in shares of International Tower Hill Mines by 27.1% in 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 during the last quarter. XTX Topco Ltd lifted its holdings in International Tower Hill Mines by 97.7% in the second quarter. XTX Topco Ltd now owns 59,074 shares of the company’s stock valued at $51,000 after buying an additional 29,186 shares during the period. Marshall Wace LLP bought a new stake in International Tower Hill Mines during the second quarter valued at $32,000. Captrust Financial Advisors acquired a new stake in International Tower Hill Mines during the 2nd quarter worth about $69,000. Finally, Jane Street Group LLC bought a new position in shares of International Tower Hill Mines in the 2nd quarter worth about $77,000. 54.63% of the stock is currently owned by institutional investors and hedge funds.

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.