International Tower Hill Mines (NYSE:THM) Shares Climb 7% - Time to Buy?

Key Points

• International Tower Hill Mines shares rose 7% to about $1.93 in midday trading, though volume was 86% below the stock’s average daily volume.
• THM trades below its 50-day and 200-day moving averages, with a market capitalization of approximately $494 million and a negative P/E ratio of -94.25.
• Institutional ownership stands at 54.63%, with several investment firms increasing or initiating positions. The company is focused on advancing its Livengood Gold Project in Alaska and does not currently operate a producing mine.

International Tower Hill Mines Ltd. (NYSE:THM - Get Free Report) shot up 7% during mid-day trading on Monday. The stock traded as high as $1.98 and last traded at $1.9260. 177,020 shares changed hands during trading, a decline of 86% from the average session volume of 1,243,931 shares. The stock had previously closed at $1.80.

International Tower Hill Mines Price Performance

The business's 50 day moving average is $2.40 and its 200-day moving average is $2.43. The company has a market cap of $493.77 million, a PE ratio of -94.25 and a beta of 1.00.

Institutional Investors Weigh In On International Tower Hill Mines

A number of hedge funds and other institutional investors have recently modified their holdings of THM. CWA Asset Management Group LLC increased its position in International Tower Hill Mines by 5.1% during the 3rd quarter. CWA Asset Management Group LLC now owns 160,354 shares of the company's stock worth $409,000 after purchasing an additional 7,727 shares in the last quarter. Greenwich Wealth Management LLC raised its holdings in shares of International Tower Hill Mines by 60.7% in the 2nd quarter. Greenwich Wealth Management LLC now owns 16,074,898 shares of the company's stock worth $31,989,000 after purchasing an additional 6,074,898 shares in the last quarter. Two Sigma Securities LLC purchased a new stake in shares of International Tower Hill Mines in the second quarter valued at $40,000. Corient Private Wealth LP acquired a new stake in International Tower Hill Mines in the second quarter valued at approximately $25,000. Finally, Paulson & CO. Inc. acquired a new stake in shares of International Tower Hill Mines in the second quarter valued at about $207,929,000. 54.63% of the stock is currently owned by institutional investors and hedge funds.

International Tower Hill Mines Company Profile

International Tower Hill Mines Ltd. is a mineral exploration and development company focused on advancing gold properties in Alaska. The company's principal asset is the Livengood Gold Project, a large-scale gold development project located approximately 70 miles northwest of Fairbanks.

International Tower Hill Mines is working to evaluate and advance Livengood through exploration, engineering, permitting and project-development activities. The company does not operate a producing mine and is focused primarily on defining the project's potential and assessing the requirements for future development.

Founded in Canada, International Tower Hill Mines is headquartered in Vancouver, British Columbia, and its activities are concentrated in Alaska.

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