International Tower Hill Mines (NYSE:THM) Major Shareholder Paulson & Co. Inc. Buys 18,018,018 Shares

International Tower Hill Mines Ltd. (NYSE:THM) major shareholder Paulson & Co. Inc. purchased 18,018,018 shares of the firm’s stock in a transaction that occurred on Tuesday, January 27th. The stock was bought at an average cost of $2.22 per share, for a total transaction of $39,999,999.96. Following the purchase, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

International Tower Hill Mines Trading Up 16.7%

THM opened at $2.87 on Wednesday. International Tower Hill Mines Ltd. has a 1-year low of $0.45 and a 1-year high of $3.13. The stock has a market capitalization of $596.63 million, a PE ratio of -143.50 and a beta of 0.71. The firm has a 50-day moving average price of $2.01 and a two-hundred day moving average price of $1.71.

Hedge Funds Weigh In On International Tower Hill Mines

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of 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 during the period. Citadel Advisors LLC raised its position in International Tower Hill Mines by 1,238.5% during the 3rd quarter. Citadel Advisors LLC now owns 219,307 shares of the company’s stock worth $360,000 after purchasing an additional 202,922 shares during the last quarter. Jane Street Group LLC acquired a new position in International Tower Hill Mines during the 2nd quarter worth about $77,000. CWA Asset Management Group LLC grew its position in shares of International Tower Hill Mines by 27.1% in the 4th quarter. CWA Asset Management Group LLC now owns 128,635 shares of the company’s stock valued at $239,000 after buying an additional 27,394 shares during the last quarter. Finally, Captrust Financial Advisors acquired a new stake in shares of International Tower Hill Mines in the second quarter valued at about $69,000. 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. (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.