International Tower Hill Mines (NYSE:THM) Trading Down 4% - Here's Why

Key Points

• Shares of International Tower Hill Mines (NYSE:THM) slid about 4% to $2.4950 on Monday with only ~187,608 shares traded (roughly a 90% drop vs. average volume); the company has a market cap of ~$518.7M and a 50-day/200-day moving average of $2.60/$2.19.
• Major insiders boosted positions: Paulson & Co. bought 18,018,018 shares at $2.22 (~$40M) bringing its holding to 88.26M shares, Global Holdings/Electrum bought 3,153,153 shares at $2.22, and insiders bought ~32.49M shares (~$72.1M) over the past 90 days.
• International Tower Hill Mines is focused on advancing the large Livengood gold project in Alaska, concentrating on exploration, permitting and feasibility work toward a potential mining operation.

Shares of International Tower Hill Mines Ltd. (NYSE:THM - Get Free Report) were down 4% during trading on Monday . The company traded as low as $2.47 and last traded at $2.4950. Approximately 187,608 shares were traded during trading, a decline of 90% from the average daily volume of 1,850,125 shares. The stock had previously closed at $2.60.

International Tower Hill Mines Price Performance

The company has a market capitalization of $518.67 million, a price-to-earnings ratio of -125.00 and a beta of 0.88. The business has a fifty day moving average price of $2.60 and a 200 day moving average price of $2.19.

Insiders Place Their Bets

In related news, major shareholder Paulson & Co. Inc. acquired 18,018,018 shares of the company's stock in a transaction on Tuesday, January 27th. The stock was purchased at an average cost of $2.22 per share, for a total transaction of $39,999,999.96. Following the completion of the purchase, the insider directly owned 88,257,406 shares of the company's stock, valued at $195,931,441.32. The trade was a 25.65% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Global Holdings L.P. Electrum acquired 3,153,153 shares of the company's stock in a transaction 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 completion of the purchase, the insider directly owned 3,153,153 shares of the company's stock, valued at approximately $6,999,999.66. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased 32,486,803 shares of company stock valued at $72,120,703 over the last 90 days. 2.48% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC acquired a new position in International Tower Hill Mines during the second quarter worth $77,000. XTX Topco Ltd increased its stake in shares of International Tower Hill Mines by 26.5% in the fourth quarter. XTX Topco Ltd now owns 96,539 shares of the company's stock valued at $180,000 after buying an additional 20,208 shares in the last quarter. Citadel Advisors LLC increased its stake in shares of International Tower Hill Mines by 1,238.5% in the third quarter. Citadel Advisors LLC now owns 219,307 shares of the company's stock valued at $360,000 after buying an additional 202,922 shares in the last quarter. Ketron Financial acquired a new stake in shares of International Tower Hill Mines in the fourth quarter valued at $28,000. Finally, Marshall Wace LLP acquired a new stake in shares of International Tower Hill Mines in the second quarter valued at $32,000. 54.63% of the stock is currently owned by institutional investors and hedge funds.

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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