International Tower Hill Mines (NYSE:THM) Shares Gap Up - Here's Why

Key Points

• International Tower Hill Mines Ltd. shares gapped up from $2.76 to $3.02 before opening on Wednesday, but last traded at $2.80 with a total volume of 1,330,164 shares.
• The company's market cap stands at $540.50 million, with a price-to-earnings ratio of -131.50 and institutional investors owning approximately 54.63% of the stock.
• In the 2nd quarter, several hedge funds notably increased their positions in the company, with Connor Clark & Lunn Investment Management boosting its stake by 589.1%.

International Tower Hill Mines Ltd. (NYSE:THM - ) shares gapped up before the market opened on Wednesday . The stock had previously closed at $2.76, but opened at $3.02. International Tower Hill Mines shares last traded at $2.80, with a volume of 1,330,164 shares traded.

International Tower Hill Mines Trading Down 5.8%

The company has a market cap of $540.50 million, a price-to-earnings ratio of -131.50 and a beta of 0.54. The stock's fifty day simple moving average is $1.55 and its 200 day simple moving average is $1.09.

Institutional Trading of International Tower Hill Mines

Several hedge funds have recently made changes to their positions in the company. Captrust Financial Advisors purchased a new stake in shares of International Tower Hill Mines in the 2nd quarter valued at approximately $69,000. Jane Street Group LLC purchased a new position in shares of International Tower Hill Mines during the 2nd quarter worth approximately $77,000. Marshall Wace LLP purchased a new position in shares of International Tower Hill Mines during the 2nd quarter worth approximately $32,000. XTX Topco Ltd boosted its position in shares of 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 purchasing an additional 29,186 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of International Tower Hill Mines by 589.1% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 120,600 shares of the company's stock worth $104,000 after purchasing an additional 103,100 shares during the period. Hedge funds and other institutional investors own 54.63% of the company's stock.

International Tower Hill Mines Company Profile

International Tower Hill Mines Ltd. is a Canada-based resource exploration company possessing a portfolio of Alaskan and Nevada based gold and base metal exploration projects. The Company is currently focused on the Livengood Gold Project located in the north of Fairbanks, Alaska. International Tower Hill Mines Ltd.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.