International Tower Hill Mines (NYSE:THM) Shares Gap Up on Insider Buying Activity

International Tower Hill Mines Ltd. (NYSE:THM)’s share price gapped up prior to trading on Monday following insider buying activity. The stock had previously closed at $2.61, but opened at $2.81. International Tower Hill Mines shares last traded at $2.70, with a volume of 1,565,273 shares traded.

Specifically, major shareholder Paulson & Co. Inc. acquired 1,501,982 shares of the company’s stock in a transaction that occurred on Thursday, January 29th. The stock was acquired at an average price of $2.22 per share, with a total value of $3,334,400.04. Following the purchase, the insider directly owned 99,573,038 shares in the company, valued at approximately $221,052,144.36. This trade represents a 1.53% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Paulson & Co. Inc. bought 9,813,650 shares of the firm’s stock in a transaction on Wednesday, January 28th. The shares were bought at an average cost of $2.22 per share, for a total transaction of $21,786,303.00. Following the purchase, the insider owned 98,071,056 shares of the company’s stock, valued at approximately $217,717,744.32. The trade was a 11.12% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In related news, major shareholder Global Holdings L.P. Electrum purchased 3,153,153 shares of the stock in a transaction dated Tuesday, January 27th. The stock was bought at an average cost of $2.22 per share, for a total transaction of $6,999,999.66. Following the completion of the acquisition, the insider owned 3,153,153 shares of the company’s stock, valued at approximately $6,999,999.66. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

International Tower Hill Mines Stock Performance

The firm has a market cap of $511.40 million, a price-to-earnings ratio of -123.00 and a beta of 0.71. The business has a fifty day simple moving average of $2.11 and a 200-day simple moving average of $1.76.

Institutional Trading of International Tower Hill Mines

A number of large investors have recently bought and sold shares of the business. Citadel Advisors LLC lifted its stake in shares of 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 valued at $360,000 after purchasing an additional 202,922 shares during the period. CWA Asset Management Group LLC lifted its stake in 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 buying an additional 27,394 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of 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 worth $104,000 after buying an additional 103,100 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of International Tower Hill Mines during the 2nd quarter worth approximately $77,000. Finally, Captrust Financial Advisors acquired a new stake in shares of International Tower Hill Mines during the 2nd quarter worth approximately $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.