15,000 Shares in Perpetua Resources Corp. $PPTA Bought by Cardinal Point Capital Management ULC

Key Points

• Cardinal Point Capital Management ULC has acquired 15,000 shares of Perpetua Resources Corp. for approximately $182,000, marking a significant new investment in the company.
• Institutional ownership of Perpetua Resources is high, with around 70.07% of its stock held by hedge funds and institutional investors, indicating strong interest from large financial entities.
• Analysts have mixed views on Perpetua Resources, with a consensus target price of $28.57 and a mix of ratings including two Strong Buy, seven Buy, and one Sell rating.

Cardinal Point Capital Management ULC bought a new position in shares of Perpetua Resources Corp. (NASDAQ:PPTA - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 15,000 shares of the company's stock, valued at approximately $182,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. U S Global Investors Inc. grew its stake in Perpetua Resources by 66.7% during the 2nd quarter. U S Global Investors Inc. now owns 50,000 shares of the company's stock worth $607,000 after purchasing an additional 20,000 shares in the last quarter. Medici Capital LLC acquired a new position in Perpetua Resources during the 2nd quarter worth $607,000. Amundi raised its holdings in shares of Perpetua Resources by 39.4% in the 1st quarter. Amundi now owns 1,017,573 shares of the company's stock valued at $11,397,000 after purchasing an additional 287,664 shares in the last quarter. Deutsche Bank AG raised its holdings in shares of Perpetua Resources by 409.2% in the 1st quarter. Deutsche Bank AG now owns 157,285 shares of the company's stock valued at $1,681,000 after purchasing an additional 126,394 shares in the last quarter. Finally, Encompass Capital Advisors LLC purchased a new stake in Perpetua Resources during the 1st quarter worth about $15,745,000. 70.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PPTA shares. UBS Group set a $30.00 price target on shares of Perpetua Resources in a research note on Thursday, October 9th. Wall Street Zen lowered shares of Perpetua Resources from a "hold" rating to a "sell" rating in a research note on Saturday, October 18th. B. Riley upped their price objective on shares of Perpetua Resources from $23.00 to $25.00 and gave the company a "buy" rating in a research note on Friday, October 3rd. Roth Capital set a $32.00 target price on Perpetua Resources and gave the stock a "buy" rating in a research report on Wednesday. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Perpetua Resources in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Perpetua Resources presently has an average rating of "Buy" and a consensus target price of $28.57.

Perpetua Resources Stock Performance

NASDAQ PPTA opened at $23.30 on Friday. Perpetua Resources Corp. has a one year low of $7.81 and a one year high of $31.65. The firm has a market cap of $2.51 billion, a PE ratio of -75.16 and a beta of 0.01. The firm's fifty day moving average is $20.51 and its two-hundred day moving average is $16.48.

Perpetua Resources (NASDAQ:PPTA - Get Free Report) last announced its earnings results on Wednesday, August 13th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.06. Research analysts predict that Perpetua Resources Corp. will post -0.21 earnings per share for the current year.

Insider Buying and Selling at Perpetua Resources

In other Perpetua Resources news, insider Michael Stephen Wright sold 10,000 shares of the business's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $18.31, for a total value of $183,100.00. Following the transaction, the insider directly owned 14,195 shares of the company's stock, valued at approximately $259,910.45. The trade was a 41.33% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jonathan Cherry sold 14,911 shares of Perpetua Resources stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $23.72, for a total transaction of $353,688.92. Following the completion of the sale, the insider directly owned 36,249 shares in the company, valued at approximately $859,826.28. The trade was a 29.15% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.50% of the company's stock.

Perpetua Resources Profile

Perpetua Resources Corp. engages in the exploration and development of mineral properties in the United States. The company primarily explores for gold, silver, and antimony deposits. Its principal asset is the 100% owned Stibnite Gold project, which includes 1,672 unpatented lode claims, mill sites, and patented land holdings covering an area of approximately 11,548 hectares located in Valley County, Idaho.

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