StockNews.com Initiates Coverage on International Tower Hill Mines (NYSE:THM)

StockNews.com assumed coverage on shares of International Tower Hill Mines (NYSE:THM) in a research report issued on Tuesday. The firm set a “sell” rating on the stock.

International Tower Hill Mines Stock Up 7.8 %

Shares of International Tower Hill Mines stock opened at $0.51 on Tuesday. International Tower Hill Mines has a 1 year low of $0.40 and a 1 year high of $0.80. The stock has a 50-day simple moving average of $0.48. The company has a market capitalization of $101.84 million, a P/E ratio of -25.50 and a beta of 1.04.

Insider Activity at International Tower Hill Mines

In related news, major shareholder Strategic Opportuniti Electrum purchased 1,152,091 shares of International Tower Hill Mines stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average cost of $0.48 per share, with a total value of $553,003.68. Following the completion of the transaction, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.46% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Northern Trust Corp acquired a new stake in shares of International Tower Hill Mines in the fourth quarter valued at approximately $46,000. Dauntless Investment Group LLC acquired a new stake in shares of International Tower Hill Mines in the fourth quarter valued at approximately $106,000. Tradition Wealth Management LLC acquired a new stake in shares of International Tower Hill Mines in the fourth quarter valued at approximately $28,000. Finally, Hemenway Trust Co LLC acquired a new stake in shares of International Tower Hill Mines in the fourth quarter valued at approximately $38,000. 54.63% of the stock is owned by institutional investors and hedge funds.

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.