Shares of International Tower Hill Mines Ltd. (NYSE:THM – Get Free Report) traded down 7.3% on Wednesday . The company traded as low as $2.73 and last traded at $2.7350. 130,821 shares were traded during trading, a decline of 90% from the average daily volume of 1,358,501 shares. The stock had previously closed at $2.95.
International Tower Hill Mines Price Performance
The company has a market cap of $726.41 million, a price-to-earnings ratio of -138.25 and a beta of 1.04. The business has a 50 day simple moving average of $2.39 and a 200 day simple moving average of $2.38.
Hedge Funds Weigh In On International Tower Hill Mines
Hedge funds have recently added to or reduced their stakes in the company. Paulson & CO. Inc. acquired a new stake in International Tower Hill Mines in the 2nd quarter valued at about $207,929,000. Electrum Group LLC bought a new stake in International Tower Hill Mines in the second quarter valued at approximately $63,518,462. Kopernik Global Investors LLC raised its stake in International Tower Hill Mines by 22.2% in the first quarter. Kopernik Global Investors LLC now owns 17,650,432 shares of the company’s stock valued at $40,596,000 after buying an additional 3,202,014 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of International Tower Hill Mines in the second quarter valued at approximately $1,138,000. Finally, Bank of America Corp DE lifted its position in shares of International Tower Hill Mines by 57,043.0% in the first quarter. Bank of America Corp DE now owns 285,715 shares of the company’s stock valued at $657,000 after buying an additional 285,215 shares during the last quarter. Institutional investors own 54.63% of the company’s stock.
International Tower Hill Mines Company Profile
International Tower Hill Mines Ltd. is a mineral exploration and development company focused on advancing gold properties in Alaska. The company’s principal asset is the Livengood Gold Project, located approximately 70 miles northwest of Fairbanks in the Tintina Gold Belt.
The Livengood project centers on the Money Knob deposit, a large, low-grade gold system that the company is evaluating for potential development using conventional open-pit mining and processing methods. International Tower Hill Mines’ activities include exploration, resource evaluation, engineering studies, permitting, and other technical work intended to assess the project’s economic and development potential.
The company has historically focused its operations on Alaska and does not currently operate producing mines.
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