International Tower Hill Mines (NYSE:THM) Shares Down 11.8% – Should You Sell?

International Tower Hill Mines Ltd. (NYSE:THM) shares fell 11.8% during mid-day trading on Wednesday. The company traded as low as $2.01 and last traded at $1.9850. Approximately 521,233 shares were traded during trading, a decline of 60% from the average session volume of 1,294,531 shares. The stock had previously closed at $2.25.

International Tower Hill Mines Price Performance

The firm has a market capitalization of $525.20 million, a price-to-earnings ratio of -100.35 and a beta of 1.00. The business’s 50-day moving average price is $2.55 and its 200 day moving average price is $2.38.

Institutional Trading of International Tower Hill Mines

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Greenwich Wealth Management LLC boosted its holdings in International Tower Hill Mines by 60.7% in the second quarter. Greenwich Wealth Management LLC now owns 16,074,898 shares of the company’s stock valued at $31,989,000 after purchasing an additional 6,074,898 shares during the last quarter. Two Sigma Securities LLC purchased a new stake in International Tower Hill Mines during the 2nd quarter worth approximately $40,000. Corient Private Wealth LP purchased a new stake in International Tower Hill Mines during the 2nd quarter worth approximately $25,000. Paulson & CO. Inc. purchased a new stake in International Tower Hill Mines during the 2nd quarter worth approximately $207,929,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of International Tower Hill Mines in the 2nd quarter valued at approximately $1,138,000. 54.63% of the stock is owned by hedge funds and other institutional investors.

About International Tower Hill Mines

International Tower Hill Mines Ltd. is a Canadian mineral exploration and development company focused on advancing the Livengood Gold Project in Alaska. The company does not operate producing mines; its activities center on exploration, resource evaluation, technical studies, permitting and project development.

The Livengood Gold Project is located near Fairbanks, Alaska, and is wholly owned by International Tower Hill Mines. The project covers a large gold deposit and is being evaluated for potential development through additional engineering, economic analysis and environmental and permitting work.

International Tower Hill Mines trades on the NYSE American under the symbol THM and on the Toronto Stock Exchange under the same symbol.