Insider Buying: International Tower Hill Mines Ltd. (NYSE:THM) Major Shareholder Purchases 1,152,091 Shares of Stock

International Tower Hill Mines Ltd. (NYSE:THM) major shareholder Strategic Opportuniti Electrum acquired 1,152,091 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The shares were purchased at an average price of $0.48 per share, with a total value of $553,003.68. Following the acquisition, the insider now owns 28,765,672 shares of the company’s stock, valued at approximately $13,807,522.56. This trade represents a 4.17 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

International Tower Hill Mines Price Performance

Shares of THM opened at $0.47 on Friday. International Tower Hill Mines Ltd. has a 52-week low of $0.40 and a 52-week high of $0.80. The company has a 50 day simple moving average of $0.48. The firm has a market cap of $93.86 million, a price-to-earnings ratio of -23.50 and a beta of 1.10.

Hedge Funds Weigh In On International Tower Hill Mines

A number of large investors have recently bought and sold shares of THM. Tradition Wealth Management LLC bought a new stake in shares of International Tower Hill Mines in the fourth quarter worth $28,000. Hemenway Trust Co LLC acquired a new stake in International Tower Hill Mines in the 4th quarter valued at $38,000. Northern Trust Corp acquired a new stake in International Tower Hill Mines in the 4th quarter valued at $46,000. Finally, Dauntless Investment Group LLC bought a new stake in International Tower Hill Mines during the 4th quarter worth about $106,000. Institutional investors and hedge funds own 54.63% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of International Tower Hill Mines in a report on Monday, February 24th. They issued a “sell” rating for the company.

About International Tower Hill Mines

International Tower Hill Mines Ltd. is a Canada-based resource exploration company possessing a portfolio of Alaskan and Nevada based gold and base metal exploration projects. The Company is currently focused on the Livengood Gold Project located in the north of Fairbanks, Alaska. International Tower Hill Mines Ltd.