Alps Advisors Inc. Makes New Investment in Perpetua Resources Corp. (NASDAQ:PPTA)

Alps Advisors Inc. bought a new stake in Perpetua Resources Corp. (NASDAQ:PPTA - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 88,061 shares of the company's stock, valued at approximately $941,000. Alps Advisors Inc. owned about 0.12% of Perpetua Resources as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in PPTA. Ancora Advisors LLC acquired a new position in shares of Perpetua Resources during the fourth quarter valued at $37,000. GAMMA Investing LLC increased its holdings in shares of Perpetua Resources by 1,658.4% during the first quarter. GAMMA Investing LLC now owns 4,308 shares of the company's stock valued at $46,000 after purchasing an additional 4,063 shares during the period. North Capital Inc. acquired a new position in shares of Perpetua Resources during the first quarter valued at $53,000. BNP Paribas Financial Markets acquired a new position in shares of Perpetua Resources during the fourth quarter valued at $55,000. Finally, Continuum Advisory LLC increased its holdings in shares of Perpetua Resources by 72.9% during the first quarter. Continuum Advisory LLC now owns 8,300 shares of the company's stock valued at $89,000 after purchasing an additional 3,500 shares during the period. 70.07% of the stock is currently owned by institutional investors.

Perpetua Resources Trading Up 2.7%

NASDAQ:PPTA traded up $0.42 during mid-day trading on Thursday, reaching $15.87. 2,408,297 shares of the stock were exchanged, compared to its average volume of 1,122,350. The business has a fifty day moving average price of $13.83 and a 200 day moving average price of $12.23. The firm has a market capitalization of $1.71 billion, a PE ratio of -54.72 and a beta of -0.04. Perpetua Resources Corp. has a 1-year low of $5.25 and a 1-year high of $17.96.

Perpetua Resources (NASDAQ:PPTA - Get Free Report) last released its earnings results on Friday, May 9th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.07). On average, sell-side analysts forecast that Perpetua Resources Corp. will post -0.21 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Paulson & Co. Inc. purchased 7,575,757 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The stock was acquired at an average price of $13.20 per share, for a total transaction of $99,999,992.40. Following the transaction, the insider directly owned 32,347,299 shares of the company's stock, valued at $426,984,346.80. This trade represents a 30.58% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Michael Stephen Wright sold 6,500 shares of the stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $13.85, for a total value of $90,025.00. Following the completion of the transaction, the insider owned 14,195 shares of the company's stock, valued at $196,600.75. This trade represents a 31.41% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.50% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. B. Riley reissued a "buy" rating and set a $17.00 price target (up from $16.00) on shares of Perpetua Resources in a report on Wednesday, June 18th. HC Wainwright reaffirmed a "buy" rating and set a $27.50 target price on shares of Perpetua Resources in a report on Tuesday, June 17th. National Bank Financial raised Perpetua Resources to a "strong-buy" rating in a report on Friday, March 21st. Finally, National Bankshares reaffirmed an "outperform" rating on shares of Perpetua Resources in a report on Wednesday, June 18th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $21.17.

About Perpetua Resources

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.