International Tower Hill Mines (NYSE:THM) Stock Price Down 7% - Time to Sell?

Key Points

• Shares fell about 7% intraday to $2.445 (low $2.46) on Monday, with volume of ~365,218 shares—about a 79% drop from the stock's average daily volume.
• Major insider buying: Global Holdings L.P. Electrum bought 3,153,153 shares at $2.22 and Paulson & Co. bought 4,913,665 shares at $2.56; insiders acquired 37.4M shares last quarter and now own 2.48% while institutions own 54.63%.
• International Tower Hill has a market cap of ~$648.8M and a negative PE (-124.25) and is focused on advancing the Livengood gold project in Alaska.

Shares of International Tower Hill Mines Ltd. (NYSE:THM - Get Free Report) were down 7% during mid-day trading on Monday . The stock traded as low as $2.46 and last traded at $2.4450. Approximately 365,218 shares changed hands during trading, a decline of 79% from the average daily volume of 1,769,746 shares. The stock had previously closed at $2.63.

International Tower Hill Mines Stock Performance

The firm's 50 day moving average price is $2.60 and its 200-day moving average price is $2.25. The firm has a market capitalization of $648.78 million, a PE ratio of -124.25 and a beta of 0.88.

Insider Transactions at International Tower Hill Mines

In other International Tower Hill Mines news, major shareholder Global Holdings L.P. Electrum acquired 3,153,153 shares of the business's stock in a transaction on Tuesday, January 27th. The stock was bought at an average price of $2.22 per share, for a total transaction of $6,999,999.66. Following the acquisition, the insider owned 3,153,153 shares in the company, valued at approximately $6,999,999.66. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Paulson & Co. Inc. acquired 4,913,665 shares of the business's stock in a transaction on Thursday, April 16th. The stock was acquired at an average price of $2.56 per share, with a total value of $12,578,982.40. Following the acquisition, the insider owned 104,486,703 shares in the company, valued at $267,485,959.68. The trade was a 4.93% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders acquired 37,400,468 shares of company stock valued at $84,699,685. 2.48% of the stock is owned by insiders.

Institutional Trading of International Tower Hill Mines

A number of hedge funds have recently bought and sold shares of THM. StoneX Group Inc. increased its holdings in shares of International Tower Hill Mines by 43.3% during the 4th quarter. StoneX Group Inc. now owns 27,389 shares of the company's stock worth $51,000 after buying an additional 8,281 shares during the last quarter. Ketron Financial acquired a new stake in shares of International Tower Hill Mines during the 4th quarter worth approximately $28,000. XTX Topco Ltd increased its holdings in shares of International Tower Hill Mines by 26.5% during the 4th 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. Tudor Investment Corp ET AL acquired a new stake in shares of International Tower Hill Mines during the 4th quarter worth approximately $41,000. Finally, CWA Asset Management Group LLC boosted its position in shares of International Tower Hill Mines by 27.1% during the 4th quarter. CWA Asset Management Group LLC now owns 128,635 shares of the company's stock worth $239,000 after purchasing an additional 27,394 shares during the period. 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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