International Tower Hill Mines (NYSE:THM) Trading Down 1.9% – Here’s Why

International Tower Hill Mines Ltd. (NYSE:THM) was down 1.9% during trading on Friday . The company traded as low as $2.09 and last traded at $2.12. Approximately 701,869 shares changed hands during trading, a decline of 16% from the average daily volume of 833,595 shares. The stock had previously closed at $2.16.

International Tower Hill Mines Stock Performance

The firm’s 50 day moving average is $1.84 and its 200-day moving average is $1.58. The stock has a market capitalization of $440.72 million, a price-to-earnings ratio of -106.00 and a beta of 0.71.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Citadel Advisors LLC increased its holdings in International Tower Hill Mines by 1,238.5% in the 3rd quarter. Citadel Advisors LLC now owns 219,307 shares of the company’s stock worth $360,000 after acquiring an additional 202,922 shares in the last quarter. CWA Asset Management Group LLC grew its position in shares of International Tower Hill Mines by 27.1% in the fourth quarter. CWA Asset Management Group LLC now owns 128,635 shares of the company’s stock valued at $239,000 after purchasing an additional 27,394 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of International Tower Hill Mines by 589.1% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 120,600 shares of the company’s stock valued at $104,000 after purchasing an additional 103,100 shares during the period. Jane Street Group LLC purchased a new stake in shares of International Tower Hill Mines during the second quarter worth about $77,000. Finally, Captrust Financial Advisors acquired a new position in shares of International Tower Hill Mines during the 2nd quarter worth about $69,000. Hedge funds and other 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.