International Tower Hill Mines (NYSE:THM) Shares Down 1.9% – Should You Sell?

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

International Tower Hill Mines Stock Performance

The company has a 50 day simple moving average of $1.84 and a 200 day simple moving average of $1.58. The company has a market capitalization of $440.72 million, a PE ratio of -106.00 and a beta of 0.71.

Institutional Investors Weigh In On International Tower Hill Mines

Several institutional investors and hedge funds have recently added to or reduced their stakes in THM. Marshall Wace LLP purchased a new stake in shares of International Tower Hill Mines during the second quarter worth $32,000. XTX Topco Ltd boosted its position in International Tower Hill Mines by 97.7% during the second quarter. XTX Topco Ltd now owns 59,074 shares of the company’s stock worth $51,000 after acquiring an additional 29,186 shares during the last quarter. Captrust Financial Advisors acquired a new position in International Tower Hill Mines during the second quarter worth about $69,000. Jane Street Group LLC purchased a new stake in International Tower Hill Mines during the 2nd quarter valued at about $77,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in International Tower Hill Mines by 589.1% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 120,600 shares of the company’s stock valued at $104,000 after acquiring an additional 103,100 shares during the last quarter. Institutional investors and hedge funds 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.