Electrum Increases Stake in International Tower Hill Mines with 1.15 Million Shares Purchase

International Tower Hill Mines Ltd. (NYSE:THM) announced that its major shareholder, Strategic Opportuniti Electrum, has acquired 1,152,091 shares of the company's stock. This transaction took place on Thursday, February 27th, and the shares were purchased at an average price of $0.48 each, totaling approximately $553,003.68. Following this acquisition, Electrum now holds a direct ownership of 28,765,672 shares in International Tower Hill, with an estimated value of $13,807,522.56. This recent purchase reflects a 4.17% increase in the shareholder's position within the company. Details of the transaction have been disclosed in a filing with the Securities and Exchange Commission (SEC).

International Tower Hill Mines Stock Performance

On Friday, shares of THM experienced no change in price, remaining at $0.47. A total of 190,882 shares traded, which is higher than the average volume of 173,294 shares. The company’s stock has seen a 52-week low of $0.40 and a high of $0.80. With a market capitalization of $93.86 million, the firm has a price-to-earnings (PE) ratio of -23.50 and a beta of 1.10. Additionally, the business has a 50-day moving average price of $0.48.

Analysts Set New Price Targets

In related news, StockNews.com recently initiated coverage on International Tower Hill Mines, assigning a "sell" rating for the company.

Institutional Trading of International Tower Hill Mines

Recent institutional trading activity indicates that hedge funds have either increased or decreased their holdings in International Tower Hill Mines. Notably, Northern Trust Corp acquired a new stake in the company during the fourth quarter, valued at approximately $46,000. Additionally, Dauntless Investment Group LLC purchased a new position worth $106,000, and Tradition Wealth Management LLC bought in for $28,000. Lastly, Hemenway Trust Co LLC made an acquisition worth $38,000. Presently, institutional investors hold 54.63% of the company's stock.

International Tower Hill Mines Company Profile

International Tower Hill Mines Ltd. is a resource exploration company based in Canada, focusing primarily on gold and base metal exploration projects located in Alaska and Nevada. The firm is presently concentrating its efforts on the Livengood Gold Project situated north of Fairbanks, Alaska.

Should You Invest $1,000 in International Tower Hill Mines Right Now?

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Investment, Shares, Acquisition