Paulson & CO. Inc. Buys New Stake in International Tower Hill Mines Ltd. $THM

Key Points

• Paulson & Co. acquired 104.5 million shares of International Tower Hill Mines in the second quarter, valued at approximately $207.9 million. The position represents 8.1% of Paulson’s portfolio and roughly 39.94% of THM’s outstanding shares.
• Other institutional investors also established or increased positions, bringing total hedge fund and institutional ownership to 54.63% of the company.
• THM shares rose 2.2% to open at $2.82, within a 12-month range of $1.30 to $3.65. The company is advancing its Livengood gold exploration and development project in Alaska.

Paulson & CO. Inc. purchased a new position in International Tower Hill Mines Ltd. (NYSE:THM - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 104,486,703 shares of the company's stock, valued at approximately $207,929,000. International Tower Hill Mines comprises 8.1% of Paulson & CO. Inc.'s investment portfolio, making the stock its 5th largest position. Paulson & CO. Inc. owned approximately 39.94% of International Tower Hill Mines at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of International Tower Hill Mines in the 2nd quarter worth approximately $1,138,000. Electrum Group LLC purchased a new stake in International Tower Hill Mines during the 2nd quarter valued at $63,518,462,000. BlackRock Inc. purchased a new stake in International Tower Hill Mines during the 2nd quarter valued at $96,000. Bank of America Corp DE lifted its position in International Tower Hill Mines by 57,043.0% in the first quarter. Bank of America Corp DE now owns 285,715 shares of the company's stock worth $657,000 after buying an additional 285,215 shares during the last quarter. Finally, Empyrean Capital Partners LP purchased a new position in International Tower Hill Mines during the first quarter worth $207,000. 54.63% of the stock is currently owned by hedge funds and other institutional investors.

International Tower Hill Mines Stock Up 2.2%

THM stock opened at $2.82 on Wednesday. International Tower Hill Mines Ltd. has a twelve month low of $1.30 and a twelve month high of $3.65. The stock has a market capitalization of $737.82 million, a price-to-earnings ratio of -141.00 and a beta of 0.96. The firm's fifty day simple moving average is $2.24 and its two-hundred day simple moving average is $2.43.

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.

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