International Tower Hill Mines Ltd. (NYSEAMERICAN:THM) Sees Significant Decrease in Short Interest

International Tower Hill Mines Ltd. (NYSEAMERICAN:THM) (TSE:ITH) saw a large decrease in short interest during the month of September. As of September 30th, there was short interest totalling 89,200 shares, a decrease of 50.3% from the September 15th total of 179,400 shares. Based on an average daily trading volume, of 145,600 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.1% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on International Tower Hill Mines in a research report on Wednesday. They set a “sell” rating on the stock.

Institutional Investors Weigh In On International Tower Hill Mines

A hedge fund recently raised its stake in International Tower Hill Mines stock. Russell Investments Group Ltd. lifted its holdings in International Tower Hill Mines Ltd. (NYSEAMERICAN:THM) (TSE:ITH) by 1.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,878,009 shares of the mining company’s stock after purchasing an additional 28,358 shares during the quarter. Russell Investments Group Ltd. owned 1.44% of International Tower Hill Mines worth $1,984,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 54.63% of the company’s stock.

International Tower Hill Mines Trading Up 11.5 %

Shares of THM stock traded up $0.06 on Friday, hitting $0.63. 278,290 shares of the stock traded hands, compared to its average volume of 136,588. The firm has a market cap of $125.74 million, a P/E ratio of -31.49 and a beta of 1.20. International Tower Hill Mines has a 1-year low of $0.33 and a 1-year high of $0.80.

International Tower Hill Mines (NYSEAMERICAN:THM) (TSE:ITH) last issued its earnings results on Friday, August 9th. The mining company reported ($0.01) earnings per share for the quarter.

About International Tower Hill Mines

International Tower Hill Mines Ltd. engages in the acquisition, exploration, and development of mineral properties. It holds rights to acquire interests in the Livengood gold project covering an area of approximately 19,546 hectares located to the northwest of Fairbanks, Alaska. The company was formerly known as Tower Hill Mines Ltd.