172,800 Shares in Perpetua Resources Corp. $PPTA Bought by Intact Investment Management Inc.

Key Points

• Intact Investment Management bought a new position of 172,800 shares of Perpetua Resources (NASDAQ:PPTA), valued at about $4.18 million
• Other institutions shifted materially too — Vanguard added 1,245,630 shares (now 3,157,670 shares, ~$76.45M) and the Teacher Retirement System of Texas opened a ~$19.43M stake, bringing institutional ownership to about 70.07%.
• Perpetua recently missed quarterly expectations (EPS -$0.61 vs. -$0.01 estimate), trades around $26.91 with a 52-week range of $11.22–$37.37, and carries a consensus "Moderate Buy" rating with an average target of $35.

Intact Investment Management Inc. acquired a new position in shares of Perpetua Resources Corp. (NASDAQ:PPTA - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 172,800 shares of the company's stock, valued at approximately $4,183,000. Intact Investment Management Inc. owned about 0.14% of Perpetua Resources at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Benjamin Edwards Inc. lifted its stake in Perpetua Resources by 0.5% during the fourth quarter. Benjamin Edwards Inc. now owns 102,645 shares of the company's stock worth $2,485,000 after purchasing an additional 543 shares during the last quarter. Pekin Hardy Strauss Inc. lifted its stake in Perpetua Resources by 16.3% during the fourth quarter. Pekin Hardy Strauss Inc. now owns 227,814 shares of the company's stock worth $5,515,000 after purchasing an additional 31,925 shares during the last quarter. Kohmann Bosshard Financial Services LLC bought a new position in Perpetua Resources during the fourth quarter worth $107,000. Vanguard Group Inc. lifted its holdings in Perpetua Resources by 65.1% in the fourth quarter. Vanguard Group Inc. now owns 3,157,670 shares of the company's stock worth $76,447,000 after acquiring an additional 1,245,630 shares during the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in Perpetua Resources in the fourth quarter valued at approximately $19,426,000. 70.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PPTA has been the subject of a number of research reports. B. Riley Financial lifted their target price on Perpetua Resources from $30.00 to $40.00 and gave the company a "buy" rating in a research note on Wednesday, March 18th. Weiss Ratings restated a "sell (d-)" rating on shares of Perpetua Resources in a research note on Tuesday, April 21st. Zacks Research downgraded Perpetua Resources from a "hold" rating to a "strong sell" rating in a research note on Wednesday, April 8th. Finally, HC Wainwright restated a "buy" rating and issued a $41.00 target price on shares of Perpetua Resources in a research note on Wednesday, April 8th. Six research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $35.00.

Perpetua Resources Stock Down 2.0%

Shares of PPTA stock opened at $26.91 on Tuesday. The business has a 50 day moving average of $30.20 and a two-hundred day moving average of $28.00. Perpetua Resources Corp. has a 52 week low of $11.22 and a 52 week high of $37.37. The company has a market cap of $3.36 billion, a P/E ratio of -25.63 and a beta of 0.02.

Perpetua Resources (NASDAQ:PPTA - Get Free Report) last released its quarterly earnings results on Tuesday, March 31st. The company reported ($0.61) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.60). Analysts expect that Perpetua Resources Corp. will post -1.56 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Jonathan Cherry sold 4,079 shares of Perpetua Resources stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $29.31, for a total transaction of $119,555.49. Following the sale, the insider owned 44,895 shares of the company's stock, valued at approximately $1,315,872.45. The trade was a 8.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Mckinsey Margaret Lyon sold 8,699 shares of Perpetua Resources stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $29.53, for a total value of $256,881.47. Following the sale, the insider directly owned 142,329 shares in the company, valued at approximately $4,202,975.37. This trade represents a 5.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 56,500 shares of company stock worth $1,581,853. Corporate insiders own 0.57% of the company's stock.

About Perpetua Resources

Perpetua Resources Inc NASDAQ: PPTA, formerly known as eCobalt Solutions Inc, is a mineral exploration and development company focused on critical metals that support the global clean-energy transition. The company’s primary objective is to advance its flagship Idaho Cobalt Project, a permitted underground mine located near Stibnite, Idaho. This project is designed to produce cobalt, copper, gold and silver, with an emphasis on providing responsibly sourced materials to North American battery and technology markets.

In addition to its Idaho Cobalt Project, Perpetua Resources holds exploration licenses and mineral tenures across the United States and Canada.

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