International Tower Hill Mines (NYSE:THM) Shares Up 10% – Should You Buy?

International Tower Hill Mines Ltd. (NYSE:THM)’s share price traded up 10% on Wednesday . The company traded as high as $2.1190 and last traded at $2.09. Approximately 1,085,633 shares traded hands during mid-day trading, a decline of 25% from the average daily volume of 1,440,589 shares. The stock had previously closed at $1.90.

International Tower Hill Mines Stock Up 6.9%

The stock has a fifty day moving average of $2.13 and a two-hundred day moving average of $2.42. The stock has a market cap of $589.99 million, a price-to-earnings ratio of -113.25 and a beta of 0.96.

Institutional Investors Weigh In On International Tower Hill Mines

A number of hedge funds and other institutional investors have recently modified their holdings of THM. Kopernik Global Investors LLC grew its holdings in shares of International Tower Hill Mines by 22.2% in the 1st quarter. Kopernik Global Investors LLC now owns 17,650,432 shares of the company’s stock worth $40,596,000 after acquiring an additional 3,202,014 shares during the period. Paulson & CO. Inc. boosted its position in International Tower Hill Mines by 41.8% during the first quarter. Paulson & CO. Inc. now owns 99,573,038 shares of the company’s stock worth $229,018,000 after purchasing an additional 29,333,650 shares in the last quarter. Electrum Group LLC purchased a new stake in International Tower Hill Mines during the fourth quarter worth $53,504,000. TCI Wealth Advisors Inc. acquired a new stake in International Tower Hill Mines in the first quarter valued at $97,000. Finally, Ketron Financial acquired a new stake in International Tower Hill Mines in the fourth quarter valued at $28,000. 54.63% of the stock is currently owned by institutional investors and hedge funds.

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.