International Tower Hill Mines (NYSE:THM) Hits New 1-Year High Following Insider Buying Activity

International Tower Hill Mines Ltd. (NYSE:THM) hit a new 52-week high on Wednesday following insider buying activity. The company traded as high as $3.65 and last traded at $3.0290, with a volume of 3213339 shares changing hands. The stock had previously closed at $2.87.

Specifically, major shareholder Paulson & Co. Inc. acquired 18,018,018 shares of the business’s stock in a transaction dated Tuesday, January 27th. The stock was purchased at an average price of $2.22 per share, for a total transaction of $39,999,999.96. Following the completion of the transaction, the insider directly owned 88,257,406 shares in the company, valued at approximately $195,931,441.32. This trade represents a 25.65% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

International Tower Hill Mines Price Performance

The business has a 50-day moving average of $2.04 and a 200 day moving average of $1.72. The company has a market capitalization of $640.29 million, a PE ratio of -154.00 and a beta of 0.71.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Citadel Advisors LLC raised 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 acquiring an additional 202,922 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in International Tower Hill Mines by 589.1% during the 2nd 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 last quarter. CWA Asset Management Group LLC raised its position in International Tower Hill Mines by 912.4% in the 3rd quarter. CWA Asset Management Group LLC now owns 101,241 shares of the company’s stock worth $166,000 after purchasing an additional 91,241 shares during the period. Jane Street Group LLC bought a new stake in International Tower Hill Mines in the second quarter worth about $77,000. Finally, Captrust Financial Advisors purchased a new position in shares of International Tower Hill Mines during the second quarter valued at approximately $69,000. 54.63% of the stock is owned by hedge funds and other institutional investors.

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.