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

Shares of International Tower Hill Mines Ltd. (NYSE:THM) hit a new 52-week high during trading on Wednesday following insider buying activity. The stock 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. purchased 18,018,018 shares of the business’s stock in a transaction on Tuesday, January 27th. The stock was acquired at an average cost of $2.22 per share, for a total transaction of $39,999,999.96. Following the purchase, the insider directly owned 88,257,406 shares in the company, valued at $195,931,441.32. This trade represents a 25.65% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

International Tower Hill Mines Price Performance

The company’s 50-day simple moving average is $2.07 and its two-hundred day simple moving average is $1.73. The firm has a market capitalization of $621.58 million, a P/E ratio of -149.50 and a beta of 0.71.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Marshall Wace LLP purchased a new position in shares of International Tower Hill Mines during the second quarter valued at about $32,000. XTX Topco Ltd increased its stake in International Tower Hill Mines by 97.7% in the 2nd 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 bought a new position in shares of International Tower Hill Mines during the 2nd quarter valued at approximately $69,000. Jane Street Group LLC purchased a new position in shares of International Tower Hill Mines in the second quarter valued at $77,000. Finally, CWA Asset Management Group LLC increased its position in International Tower Hill Mines by 912.4% in the third 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 last quarter. 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.