Electrum Group LLC Invests $63.52 Billion in International Tower Hill Mines Ltd. $THM

Key Points

• Electrum Group LLC acquired 31.9 million shares of International Tower Hill Mines in the second quarter, representing a 12.2% stake and roughly 1.9% of Electrum’s portfolio. The filing values the position at approximately $63.5 million.
• Other institutional investors, including Citadel Advisors, XTX Topco, Marshall Wace, Jane Street and Captrust, also traded the stock; institutions collectively own 54.63% of the company.
• International Tower Hill Mines shares were reported down 7.3%, opening at $2.54, while the company continues advancing its flagship Livengood gold project in Alaska.

Electrum Group LLC bought a new position in shares of International Tower Hill Mines Ltd. (NYSE:THM - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 31,918,825 shares of the company's stock, valued at approximately $63,518,462,000. International Tower Hill Mines comprises about 1.9% of Electrum Group LLC's holdings, making the stock its 5th largest position. Electrum Group LLC owned 12.20% of International Tower Hill Mines at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. XTX Topco Ltd grew its holdings in International Tower Hill Mines by 97.7% during the 2nd quarter. XTX Topco Ltd now owns 59,074 shares of the company's stock worth $51,000 after acquiring an additional 29,186 shares during the period. Marshall Wace LLP bought a new position in International Tower Hill Mines during the second quarter worth $32,000. Jane Street Group LLC acquired a new stake in International Tower Hill Mines in the second quarter worth $77,000. Captrust Financial Advisors acquired a new stake in International Tower Hill Mines in the second quarter worth $69,000. Finally, Citadel Advisors LLC increased its stake in International Tower Hill Mines by 1,238.5% in the third quarter. Citadel Advisors LLC now owns 219,307 shares of the company's stock valued at $360,000 after purchasing an additional 202,922 shares in the last quarter. Institutional investors and hedge funds own 54.63% of the company's stock.

International Tower Hill Mines Trading Down 7.3%

Shares of NYSE THM opened at $2.54 on Wednesday. The firm's 50-day moving average price is $2.17 and its 200-day moving average price is $2.42. International Tower Hill Mines Ltd. has a 1-year low of $1.15 and a 1-year high of $3.65. The firm has a market capitalization of $664.56 million, a P/E ratio of -127.00 and a beta of 0.96.

International Tower Hill Mines 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.

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