Alps Advisors Inc. Invests $941,000 in Perpetua Resources Corp. (NASDAQ:PPTA)

Alps Advisors Inc. purchased a new stake in shares of Perpetua Resources Corp. (NASDAQ:PPTA - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 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 SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PPTA. Raymond James Financial Inc. bought a new position in shares of Perpetua Resources during the 4th quarter valued at approximately $280,000. Amundi bought a new position in shares of Perpetua Resources during the 4th quarter valued at approximately $7,788,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Perpetua Resources during the 4th quarter valued at approximately $1,307,000. Arrien Investments Inc. bought a new position in shares of Perpetua Resources during the 4th quarter valued at approximately $572,000. Finally, Sei Investments Co. grew its stake in shares of Perpetua Resources by 11.4% during the 4th quarter. Sei Investments Co. now owns 94,024 shares of the company's stock valued at $1,003,000 after acquiring an additional 9,617 shares during the period. Hedge funds and other institutional investors own 70.07% of the company's stock.

Perpetua Resources Trading Up 0.2%

NASDAQ:PPTA traded up $0.03 during midday trading on Thursday, hitting $15.48. 542,339 shares of the company traded hands, compared to its average volume of 1,111,792. The firm's fifty day moving average is $13.80 and its 200-day moving average is $12.19. Perpetua Resources Corp. has a 12-month low of $5.25 and a 12-month high of $17.96. The firm has a market capitalization of $1.61 billion, a P/E ratio of -53.56 and a beta of -0.04.

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

Insiders Place Their Bets

In other Perpetua Resources news, major shareholder Paulson & Co. Inc. bought 7,575,757 shares of Perpetua Resources stock in a transaction on Monday, June 16th. The shares were acquired at an average price of $13.20 per share, for a total transaction of $99,999,992.40. Following the completion of the purchase, the insider directly owned 32,347,299 shares in the company, valued at approximately $426,984,346.80. This trade represents a 30.58% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael Stephen Wright sold 6,500 shares of the stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $13.85, for a total value of $90,025.00. Following the completion of the sale, the insider owned 14,195 shares in the company, valued at approximately $196,600.75. The trade was 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.

Analysts Set New Price Targets

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

Perpetua Resources Company 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.