International Tower Hill Mines (NYSE:THM) Stock Price Up 5.6% - Still a Buy?

Key Points

• Major insider buys: Paulson & Co. purchased 18,018,018 shares at $2.22 (~$40.0M), raising its stake to 88,257,406 shares, and insiders have bought 32,486,803 shares (~$72.1M) in the past 90 days.
• Stock move and metrics: Shares rose 5.6% to $2.46 on Wednesday on lower-than-average volume (~1.37M vs. 1.90M), with a market cap of $511.4M, negative P/E (-123), 50-day SMA $2.61 and 200-day SMA $2.17.
• Business focus: International Tower Hill Mines is advancing the large-scale Livengood gold project in Alaska through drilling, resource modeling and permitting toward a potential mining operation.

Shares of International Tower Hill Mines Ltd. (NYSE:THM - Get Free Report) rose 5.6% during trading on Wednesday . The company traded as high as $2.58 and last traded at $2.46. Approximately 1,370,474 shares traded hands during trading, a decline of 28% from the average daily volume of 1,904,271 shares. The stock had previously closed at $2.33.

International Tower Hill Mines Stock Performance

The firm has a market cap of $511.40 million, a P/E ratio of -123.00 and a beta of 0.88. The stock's 50 day simple moving average is $2.61 and its 200 day simple moving average is $2.17.

Insider Activity

In related news, major shareholder Paulson & Co. Inc. purchased 18,018,018 shares of International Tower Hill Mines stock in a transaction that occurred on Tuesday, January 27th. The stock was bought at an average price of $2.22 per share, for a total transaction of $39,999,999.96. Following the completion of the transaction, the insider owned 88,257,406 shares in the company, valued at $195,931,441.32. This represents a 25.65% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Global Holdings L.P. Electrum purchased 3,153,153 shares of International Tower Hill Mines stock in a transaction that occurred on Tuesday, January 27th. The shares were bought at an average price of $2.22 per share, with a total value of $6,999,999.66. Following the transaction, the insider owned 3,153,153 shares of the company's stock, valued at $6,999,999.66. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have purchased 32,486,803 shares of company stock valued at $72,120,703. 2.46% of the stock is owned by company insiders.

Hedge Funds Weigh In On International Tower Hill Mines

Several institutional investors have recently added to or reduced their stakes in THM. Ketron Financial bought a new position in International Tower Hill Mines during the fourth quarter worth about $28,000. Marshall Wace LLP bought a new position in International Tower Hill Mines during the second quarter worth about $32,000. Tudor Investment Corp ET AL bought a new position in International Tower Hill Mines during the fourth quarter worth about $41,000. XTX Topco Ltd boosted its position in International Tower Hill Mines by 97.7% during the second 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, StoneX Group Inc. boosted its position in International Tower Hill Mines by 43.3% during 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 period. Institutional investors 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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