Short Interest in International Tower Hill Mines Ltd. (NYSE:THM) Drops By 43.6%

Key Points

• Short interest in International Tower Hill Mines Ltd. declined by 43.6% in August, falling to 174,600 shares from 309,500 shares at the end of July.
• Multiple hedge funds increased their stakes in the company, with XTX Topco Ltd boosting its position by 97.7% during the second quarter.
• The company's stock is currently trading at $1.41, having a market capitalization of $293.12 million and a 52-week high of $1.67.

International Tower Hill Mines Ltd. (NYSE:THM - Get Free Report) was the recipient of a significant decrease in short interest in August. As of August 15th, there was short interest totaling 174,600 shares, a decrease of 43.6% from the July 31st total of 309,500 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average trading volume of 386,900 shares, the days-to-cover ratio is presently 0.5 days. Based on an average trading volume of 386,900 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.1% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Northern Trust Corp purchased a new stake in shares of International Tower Hill Mines during the 4th quarter worth approximately $46,000. Virtu Financial LLC increased its stake in International Tower Hill Mines by 199.7% in the 1st quarter. Virtu Financial LLC now owns 85,261 shares of the company's stock valued at $54,000 after purchasing an additional 56,814 shares in the last quarter. Paulson & CO. Inc. raised its holdings in International Tower Hill Mines by 9.4% during the first quarter. Paulson & CO. Inc. now owns 70,239,388 shares of the company's stock worth $44,391,000 after purchasing an additional 6,040,408 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in International Tower Hill Mines by 589.1% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 120,600 shares of the company's stock worth $104,000 after purchasing an additional 103,100 shares in the last quarter. Finally, XTX Topco Ltd grew its holdings in International Tower Hill Mines by 97.7% in the second quarter. XTX Topco Ltd now owns 59,074 shares of the company's stock valued at $51,000 after purchasing an additional 29,186 shares during the last quarter. 54.63% of the stock is owned by hedge funds and other institutional investors.

International Tower Hill Mines Price Performance

Shares of NYSE THM traded up $0.04 during trading on Thursday, hitting $1.57. 516,180 shares of the company were exchanged, compared to its average volume of 377,964. The company has a market cap of $326.38 million, a price-to-earnings ratio of -78.50 and a beta of 0.54. International Tower Hill Mines has a 1 year low of $0.40 and a 1 year high of $1.67. The firm's fifty day moving average price is $1.24 and its 200 day moving average price is $0.90.

About International Tower Hill Mines

International Tower Hill Mines Ltd. is a Canada-based resource exploration company possessing a portfolio of Alaskan and Nevada based gold and base metal exploration projects. The Company is currently focused on the Livengood Gold Project located in the north of Fairbanks, Alaska. International Tower Hill Mines Ltd.