International Tower Hill Mines Ltd(USA] (NYSEAMEX:THM) was in 7 hedge funds’ portfolio at the end of March. THM has seen an increase in activity from the world’s largest hedge funds in recent months. There were 6 hedge funds in our database with THM positions at the end of the previous quarter.
In today’s marketplace, there are dozens of gauges investors can use to monitor the equity markets. A duo of the most under-the-radar are hedge fund and insider trading movement. At Insider Monkey, our research analyses have shown that, historically, those who follow the best picks of the best investment managers can outperform their index-focused peers by a superb margin (see just how much).
Equally as integral, optimistic insider trading sentiment is another way to break down the investments you’re interested in. There are a variety of motivations for a corporate insider to get rid of shares of his or her company, but just one, very clear reason why they would behave bullishly. Various empirical studies have demonstrated the valuable potential of this strategy if “monkeys” know where to look (learn more here).
Keeping this in mind, we’re going to take a look at the key action regarding International Tower Hill Mines Ltd(USA] (NYSEAMEX:THM).
How have hedgies been trading International Tower Hill Mines Ltd(USA] (NYSEAMEX:THM)?
Heading into Q2, a total of 7 of the hedge funds we track held long positions in this stock, a change of 17% from the previous quarter. With the smart money’s sentiment swirling, there exists a few noteworthy hedge fund managers who were boosting their stakes significantly.
According to our comprehensive database, John Paulson’s Paulson & Co had the biggest position in International Tower Hill Mines Ltd(USA] (NYSEAMEX:THM), worth close to $13.6 million, accounting for 0.1% of its total 13F portfolio. Sitting at the No. 2 spot is Weiss Asset Management, managed by Andrew Weiss, which held a $2.1 million position; the fund has 1.5% of its 13F portfolio invested in the stock. Some other hedge funds that hold long positions include Chuck Royce’s Royce & Associates, Jim Simons’s Renaissance Technologies and D. E. Shaw’s D E Shaw.
As industrywide interest jumped, some big names have been driving this bullishness. Citadel Investment Group, managed by Ken Griffin, initiated the most valuable position in International Tower Hill Mines Ltd(USA] (NYSEAMEX:THM). Citadel Investment Group had 0 million invested in the company at the end of the quarter. Ken Griffin’s Citadel Investment Group also initiated a less than $1 million position during the quarter.
What do corporate executives and insiders think about International Tower Hill Mines Ltd(USA] (NYSEAMEX:THM)?
Bullish insider trading is most useful when the primary stock in question has experienced transactions within the past six months. Over the latest half-year time period, International Tower Hill Mines Ltd(USA] (NYSEAMEX:THM) has seen zero unique insiders purchasing, and 1 insider sales (see the details of insider trades here).
Let’s check out hedge fund and insider activity in other stocks similar to International Tower Hill Mines Ltd(USA] (NYSEAMEX:THM). These stocks are Richmont Mines Inc. (USA) (NYSEAMEX:RIC), Comstock Mining, Inc. (NYSEAMEX:LODE), Brigus Gold Corp (USA) (NYSEAMEX:BRD), Vista Gold Corp. (NYSEAMEX:VGZ), and Midway Gold Corp (USA) (NYSEAMEX:MDW). This group of stocks are the members of the gold industry and their market caps are similar to THM’s market cap.
| Company Name | # of Hedge Funds | # of Insiders Buying | # of Insiders Selling |
| Richmont Mines Inc. (USA) (NYSEAMEX:RIC) | 6 | 0 | 0 |
| Comstock Mining, Inc. (NYSEAMEX:LODE) | 5 | 0 | 0 |
| Brigus Gold Corp (USA) (NYSEAMEX:BRD) | 4 | 0 | 0 |
| Vista Gold Corp. (NYSEAMEX:VGZ) | 8 | 1 | 0 |
| Midway Gold Corp (USA) (NYSEAMEX:MDW) | 5 | 0 | 0 |
With the returns shown by the aforementioned research, retail investors must always watch hedge fund and insider trading sentiment, and International Tower Hill Mines Ltd(USA] (NYSEAMEX:THM) is no exception.
