International Tower Hill Mines (NYSE:THM) Shares Up 10.3% - Should You Buy?

Key Points

• International Tower Hill Mines shares rose 10.3% on Tuesday, trading as high as $2.30 before closing near $2.295. Volume was much lighter than usual, with about 119,785 shares traded versus a daily average of 1.49 million.
• Major shareholder Paulson & Co. Inc. bought 4.91 million shares at an average price of $2.56, worth about $12.6 million. After the purchase, the firm’s stake increased to 104.49 million shares, representing a 4.93% increase in ownership.
• The company remains a gold exploration and development play centered on its Livengood project in Alaska. It has a market cap of about $584.8 million, and institutional investors hold 54.63% of the stock.

International Tower Hill Mines Ltd. (NYSE:THM - Get Free Report)'s share price traded up 10.3% during trading on Tuesday . The stock traded as high as $2.30 and last traded at $2.2950. Approximately 119,785 shares changed hands during trading, a decline of 92% from the average daily volume of 1,487,315 shares. The stock had previously closed at $2.08.

International Tower Hill Mines Stock Performance

The company has a market cap of $584.76 million, a P/E ratio of -112.25 and a beta of 0.94. The stock has a 50-day moving average of $2.32 and a two-hundred day moving average of $2.42.

Insider Activity at International Tower Hill Mines

In related news, major shareholder Paulson & Co. Inc. acquired 4,913,665 shares of the firm's stock in a transaction dated 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 2.10% of the company's stock.

Hedge Funds Weigh In On International Tower Hill Mines

Several institutional investors and hedge funds have recently bought and sold shares of THM. Ketron Financial purchased a new position in International Tower Hill Mines in the 4th quarter worth approximately $28,000. Tudor Investment Corp ET AL purchased a new stake in shares of International Tower Hill Mines during the fourth quarter valued at approximately $41,000. StoneX Group Inc. grew its holdings in shares of International Tower Hill Mines by 43.3% in the fourth quarter. StoneX Group Inc. now owns 27,389 shares of the company's stock worth $51,000 after purchasing an additional 8,281 shares during the last quarter. WINTON GROUP Ltd bought a new position in shares of International Tower Hill Mines in the fourth quarter worth approximately $68,000. Finally, Marshall Wace LLP purchased a new position in shares of International Tower Hill Mines in the second quarter worth $32,000. 54.63% of the stock is currently owned by institutional investors.

About International Tower Hill Mines

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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