International Tower Hill Mines (NYSE:THM) Trading Up 12.8% – Time to Buy?

International Tower Hill Mines Ltd. (NYSE:THM) was up 12.8% on Tuesday . The company traded as high as $2.80 and last traded at $2.7750. Approximately 2,468,053 shares changed hands during trading, an increase of 59% from the average daily volume of 1,550,947 shares. The stock had previously closed at $2.46.

International Tower Hill Mines Stock Up 16.7%

The company has a market cap of $596.63 million, a PE ratio of -143.50 and a beta of 0.71. The firm has a 50 day simple moving average of $1.98 and a 200-day simple moving average of $1.69.

Institutional Trading of International Tower Hill Mines

A number of institutional investors have recently bought and sold shares of THM. CWA Asset Management Group LLC lifted its position in International Tower Hill Mines by 27.1% during the 4th quarter. CWA Asset Management Group LLC now owns 128,635 shares of the company’s stock worth $239,000 after acquiring an additional 27,394 shares during the period. XTX Topco Ltd raised its stake in shares of International Tower Hill Mines by 97.7% in the second quarter. XTX Topco Ltd now owns 59,074 shares of the company’s stock worth $51,000 after purchasing an additional 29,186 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of International Tower Hill Mines during the second quarter worth about $32,000. Captrust Financial Advisors purchased a new stake in International Tower Hill Mines in the second quarter valued at approximately $69,000. Finally, Jane Street Group LLC acquired a new position in International Tower Hill Mines in the 2nd quarter worth approximately $77,000. 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.