Paulson & Co. Inc. Acquires 18,018,018 Shares of International Tower Hill Mines (NYSE:THM) Stock

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 on Tuesday, January 27th. The shares were purchased at an average cost of $2.22 per share, with a total value of $39,999,999.96. Following the completion of the transaction, the insider owned 88,257,406 shares of the company’s stock, valued at approximately $195,931,441.32. The trade was a 25.65% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

International Tower Hill Mines Stock Performance

Shares of THM opened at $3.08 on Thursday. The stock has a 50-day moving average of $2.04 and a two-hundred day moving average of $1.72. The stock has a market cap of $640.29 million, a P/E ratio of -154.00 and a beta of 0.71. International Tower Hill Mines Ltd. has a one year low of $0.45 and a one year high of $3.65.

Hedge Funds Weigh In On International Tower Hill Mines

Hedge funds and other institutional investors have recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. lifted 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. Citadel Advisors LLC boosted its stake in shares of 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 acquiring an additional 202,922 shares in the last quarter. Captrust Financial Advisors acquired a new position in shares of International Tower Hill Mines in the 2nd quarter worth $69,000. Jane Street Group LLC acquired a new stake in shares of International Tower Hill Mines during the second quarter worth $77,000. Finally, Marshall Wace LLP acquired a new stake in shares of International Tower Hill Mines during the second quarter worth $32,000. 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.