International Tower Hill Mines (NYSE:THM) Shares Gap Up - Still a Buy?

Key Points

• International Tower Hill Mines (NYSE:THM) shares gapped up, trading up about 10.4%—the stock opened at $2.50 vs. a prior close of $2.26 and last traded at $2.4960 on volume of 402,266 shares.
• Paulson & Co. acquired 4,913,665 shares at an average $2.56 (≈$12.58M) on April 16, raising its holding to 104,486,703 shares (a 4.93% increase); insiders own 2.10% of the stock.
• Institutional interest is strong—Electrum Group opened a roughly $53.5M position, Marshall Wace substantially increased its stake, and institutions/hedge funds collectively own about 54.63% of the company.

International Tower Hill Mines Ltd. (NYSE:THM - Get Free Report)'s share price gapped up before the market opened on Wednesday . The stock had previously closed at $2.26, but opened at $2.50. International Tower Hill Mines shares last traded at $2.4960, with a volume of 402,266 shares trading hands.

International Tower Hill Mines Trading Up 10.4%

The stock's 50-day moving average is $2.58 and its 200-day moving average is $2.25. The company has a market cap of $651.39 million, a price-to-earnings ratio of -124.75 and a beta of 0.85.

Insiders Place Their Bets

In other International Tower Hill Mines news, major shareholder Paulson & Co. Inc. acquired 4,913,665 shares of the stock in a transaction on Thursday, April 16th. The shares were purchased at an average price of $2.56 per share, for a total transaction of $12,578,982.40. Following the completion of the acquisition, the insider owned 104,486,703 shares in the company, valued at approximately $267,485,959.68. This represents a 4.93% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.10% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Electrum Group LLC acquired a new position in International Tower Hill Mines during the fourth quarter worth $53,504,000. Marshall Wace LLP raised its holdings in International Tower Hill Mines by 151.3% during the fourth quarter. Marshall Wace LLP now owns 888,168 shares of the company's stock worth $1,652,000 after buying an additional 534,792 shares during the last quarter. Lombard Odier Asset Management USA Corp acquired a new position in International Tower Hill Mines during the fourth quarter worth $324,000. XTX Topco Ltd raised its holdings in International Tower Hill Mines by 26.5% during the fourth quarter. XTX Topco Ltd now owns 96,539 shares of the company's stock worth $180,000 after buying an additional 20,208 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in International Tower Hill Mines during the second quarter worth $77,000. Institutional investors and hedge funds own 54.63% of the company's stock.

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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