The stock of International Tower Hill Mines Ltd. (NYSE:THM) is now priced at $1.79 and the shares are -0.04 points down or -2.19% lower compared to its previous closing price of $1.83. The stock had 1.54 million contracts set over the past session. THM shares’ daily volume is compared to its average trading volume at 0.847 million shares. However, it has a float of 187 million and although its performance was -5.79% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the THM share price recently placing at $1.78 to $1.94. However, some brokerage firms have priced the stock below the average, including one that has called $0.5.
The shorts are running away from the International Tower Hill Mines Ltd. stock, with the latest data on short interest released on June 30, 2020, showing that short interest numbers in the THM shares have declined. Short interest in the stock represents just 0.23% of its float, but the volume has dropped by 0.
In the last trading session, International Tower Hill Mines Ltd. (NYSE:THM) dropped by -$0.11 over the week and gained $0.31 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $2.27. The stock recorded its established 52-week high on 07/07/20.
Since 03/16/20, the stock has traded to a low of $0.3251 at 450.6%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 0.65. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, International Tower Hill Mines Ltd.’s two-week RSI is 53.46. This suggests that the stock is neutral at the moment and that THM shares’ price movement remains stable. The stochastic readings are equally revealing at 30.54% meaning the THM share price is currently in neutral territory.
The technical chart shows that the THM stock will likely settle at between $1.91 and $2.03 per share. However, if the stock dips below $1.69, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $1.59.
Currently, the stock is trading in the red of MACD, with a reading of -0.0467. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned THM a rating of Buy in their intiating review released on August 13. BMO Capital Markets analysts downgraded their recommendation of the stock from Market Perform to Underperform in a flash note released to investors on April 15. Thomas Weisel analysts see the stock as Overweight when the analysts initiated the share price coverage on October 02, placing it at $6.5.
Elsewhere, the THM stocks P/S ratio currently stands below the group’s average of 26.2. International Tower Hill Mines Ltd. has its P/E ratio at 5.6, which means that the stock is currently trading at a premium relative to the 2.8 industry average.